Stewart Milne Group to cut 20% of staff

Source: Construction Digital

Date :22/07/2008 14:01:20

One of Scotland’s largest construction firms has said that it will axe 289 jobs as the housing crisis begins to creep north of the border.

Earlier this month, Edinburgh-based firm Cala Homes was forced to cut around 30 jobs from its workforce of 400, while down south, the announcement of large-scale layoffs from major housebuilders has been an almost daily occurrence.

Barratt Developments, Taylor Wimpey and the Kier Group are just some of the companies to be affected as the industry is hit by the fallout of the credit crisis.

Stewart Milne will shed a fifth of its workforce, with 120 jobs to be lost in the North East of Scotland, 96 cut from operations in England and 73 of the 178 staff employed in the central belt set to go.

Chief executive Stewart Milne said: “No one in our sector is immune from the downturn. The lack of liquidity and lower consumer confidence has resulted in a decline in sales, and despite our efforts to overcome these challenges, the ongoing market conditions have impacted on us.”