Amec cuts 2500 jobs to boost margins
Article Abstract:
The need to reduce losses on capital and commercial projects has forced UK construction firm Amec to make up to 2500 contractors redundant at the beginning of 2000. Amec is believed to be concentrating on gaining fewer but more lucrative clients and has reduced its tendering division to a bare minimum in order to cut losses. City analysts forecast Amec will record a loss in turnover to 355.8 million pounds sterling in 1999 from 374.5 million pounds sterling in 1998.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 2000
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Have they got news for you?
Article Abstract:
Construction contractors Mowlem and Laing Construction have called in management consultants to help rejuvenate their businesses. The news is remarkable because ten years ago neither company would have considered using such services. Industry watchers believe it is happening now because companies are being pressured to refocus on core businesses and there is a perceived need to improve efficiency and competitiveness.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1999
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Hochtief: the next step
Article Abstract:
Hochtief AG Chairman Hans-Peter Keitel points out he was active in acquiring foreign construction firms when other German companies were focusing on eastern Germany. Some 53% of Hochtief's earnings are from interests in foreign firms. Hochtief has shares in companies in Australia, Asia and Europe. Keitel points out to compensate for the decline in the German construction market they have had to cut jobs. In 1998 they purchased US construction management firm Turner for 140 million pounds sterling. Annual turnover for Hochtief is 4.2 billion pounds sterling.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1999
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