WSP sheds 227 UK staff as spending cuts bite

Grant Prior 14 years ago
Share

Consultant WSP has made 227 staff redundant including more than 100 at its Highways division as public transport spending collapsed.

Results released today for 2010 show the headcount at the UK transport and infrastructure division has been reduced to 806 from 908.

The redundancies came as turnover at the division dived 30% to £83.3m during the year and profits fell to £4.8m from £9.2m.

The company said: “It has been a difficult year for all UK consultants in the transport and infrastructure sector, particularly in the second half when spending fell away as public organisations awaited the outcome of the Comprehensive Spending Review.

“This challenge, coupled with the conclusion of the Highways Agency Area 12 contract in 2009, contributed to a significant reduction in revenue and profits for WSP.”

Staff numbers were also cut at the environment and energy division from 393 to 327, the management consultancy arm from 402 to 355 and the property division to 1,059 from 1,073.

Total staff levels were roughly stable across the whole business as work picked-up in mainland Europe led by Sweden.

Chairman David Turner said: “In the UK, which contributed 31% of Group revenues in 2010 compared with 35% in 2009, we saw some modest recovery in the Property sector although our Transport & Infrastructure business which largely addresses the maintenance of public sector assets, saw a significant decline reflecting the impact of the CSR and the conclusion of our Area 12 Highways Agency contract as announced in 2009.”

Group results show pre-tax profit fell to £19.2m in 2010 from £25.4m as turnover dipped 2% to £706.9m

Latest news

Demolition giant John F Hunt Group sold to staff

Chairman John Hall to remain at helm
14 hours ago

University of Warwick advances £700m campus plan

Enabling works to get underway for main build works next year
20 hours ago

Go-ahead for £750m East London data centre

Urban 11-storey data centre to be built next to River Lea and A13 in Newham
1 day ago

Keltbray Infrastructure Services buys Linbrooke rail arm

First deal since infrastructure business was bought by private equity this summer
2 days ago

Elizabeth Line wins Stirling Prize for architecture

Infrastructure scheme wins premier design prize
19 hours ago

Winners named for Worcestershire and West Mids framework

Deal covers development work from design to construction
19 hours ago

Piling starts on HS2 Curzon Street Station

Mace Dragados Joint Venture and Keltbray working on Birmingham site
19 hours ago

M Group joins top seven as revenue jumps to £2.2bn

Infrastructure services specialist continues to hunt acquisitions
2 days ago

BlackRock to take control of Lanes Group

Takeover of leading water contractor to complete this month
2 days ago

Yorkshire and Lincolnshire builders’ merchant goes under

1928-founded Builders Merchant Company hit by winding up petition
2 days ago

Trio wins £170m West Country new build housing deal

Curo Enterprise, E.G. Carter and Speller Metcalfe Malvern
2 days ago

Roofer dies in fall from potato box on forklift

Court hears how victim fell 16ft from makeshift platform
2 days ago

Clancy bolsters senior management team

Skanska project director Jon Arnold joins as operations director of energy
2 days ago

High tech construction plant could save country £417bn

Costain report says kit which connects and drives itself will provide a massive economic boost
3 days ago

Concrete frame defects cost Bellway another £14m

Cost of repairing Greenwich scheme rises while £5.4m was spent on aborted Crest Nicholson chase
3 days ago

Green light for 52-storey Isle of Dogs resi tower

460 flats One East Point project will be built at 3-4 Harbour Exchange
3 days ago

Contractors urged to “hire now” as labour supply crunch looms

Vacancies rise and wages grow as fight for new workers intensifies
3 days ago

Kier confirmed for £20m Yasa Motors Bicester HQ

Developer Bicester Motion advances future mobility business park
3 days ago

Data centres and airport expansion to spur growth

Government hails £25bn data centre and £1.1bn Stansted Airport expansion plan
3 days ago

Hinkley Point second reactor unit build up to 30% faster

Engineering team lifts last giant steel ring onto reactor 2 yesterday
3 days ago

BAM reassures supply chain after winding-up petition

Firm's credit rating temporarily affected after dispute with supplier
4 days ago

Winvic secures Leeds build to rent scheme

Phase one of £500m Sweet Street South Bank regeneration starts
4 days ago

£60m turnover construction group sold to staff

Meldrum Construction Services Group becomes Employee Owned Trust
4 days ago

Starmer vows to “rip out” obstacles to investment

Prime Minister to make pledge at inaugural International Investment Summit
4 days ago

VolkerFitzpatrick starts prep-work for £210m M3 junction upgrade

Main works to begin in early 2025 on Winchester junction job
4 days ago

London super sewer turned on after eight years of construction

£4.5bn project starts protecting River Thames from pollution
4 days ago

Housing and office new work jump fuels output recovery

August new construction work rebounds 1.6% after early summer fall
7 days ago

£300m London City fringe office tower approved

Rocket's 27-storey One Fairchild Street job set for take-off
1 week ago

Consultants named for London Tube Bakerloo Line extension

Aecom and architect WW+P to work up designs for four new stations
7 days ago

15 giant bridge beams lifted into place at HS2 station

Balfour Beatty VINCI carries-out civils work for Solihull station: Video
1 week ago

Contractor services