WSP sheds 227 UK staff as spending cuts bite

Grant Prior 15 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

HS2 first as giant bridge slid across live motorway

Watch timelapse footage of pioneering 4,600-tonne viaduct installation
10 minutes ago

Gilbert Ash breaks ground on £120m Wilde aparthotel

Staycity’s biggest London scheme gets underway in Shoreditch
20 minutes ago

Bennett wins brace of retirement home deals

Contractor to build more than 200 apartments for investor Octopus Capital
41 minutes ago

Developer showed “total disregard” for site safety

Property firm fined £45,000 for failing to meet basic standards
33 minutes ago

Watkin Jones takes £8.7m hit but eyes brighter 2026

A £2bn pipeline and stronger deal flow help rebuild confidence after a year of impairments
36 minutes ago

Project manager caught running false invoice scam

Suspended sentence and ban for director after probe into offices to resi scheme
19 hours ago

Cardo nails £52m Sussex council homes roofing deal

Firm beats 14 rivals to take Lewes and Eastbourne roofing programmes
1 day ago

Bachy turnover sinks by over £100m as HS2 surge fades

Piling specialist reports slow year as mega projects step down
24 hours ago

Van Elle finds buyer for loss-making Canadian arm

Two-year North America foray ends with £2.6m exit deal
1 day ago

£100m student halls to replace derelict London Crown Court

IQ student project gets go-ahead at Blackfriars court building site
1 day ago

Safety green light for Newcastle student scheme

Gateway 2 approval process delays construction start by a year
1 day ago

Plans go in for next phase of Manchester Waters

New neighbourhood planned for island site
24 hours ago

JRL names new fit-out lead to drive expansion

Graham Ardley steps up to drive next phase of commercial and residential growth
1 day ago

Construction output yo-yos as growth falters again

Quarterly output down 0.3% amid cautious investor sentiment
4 days ago

Free school build plans axed to fund £3bn SEND expansion

Education secretary scraps 28 free schools to plug SEND shortfall
4 days ago

McLaren seals £160m funding for Manchester student tower

737-bed Upper Brook Street student scheme forward funded by L&G
4 days ago

Former McAlpine boss lined up for Royal BAM board role

Paul Hamer to replace Paul Sheffield on Dutch group supervisory board
5 days ago

Plans go in for £650m retail park to resi scheme

Construction could start in early 2027 on new neighbourhood for Lewisham
5 days ago

Lovell launches Midlands refurb division

Renew Central to be headed by Carl Yale
4 days ago

M Group muscles into top five contractors after growth spurt

Private-equity backed infra giant builds £8.8bn work mountain
5 days ago

Plans in for first major build phase of £2bn York Central scheme

Developers table plans for nearly 1,000 homes, parkland and York’s new western station gateway
5 days ago

Lords push for staged Gateway 2 approval to aid design and build

Inquiry warns BSR’s over-detailed Gateway 2 demands are freezing D&B process
5 days ago

CITB wage bill tops £52m as staff numbers jump 13%

Accounts show 182 people at training body earn £60,000+ a year
5 days ago

Peterborough electrical specialist files administration notice

EML Electrical Contractors lodges court notice
5 days ago

Ant Yapi UK lands latest Chelsea Barracks deal

Fit-out work on Building 7 will last until summer 2027
5 days ago

Go-ahead for plan to level Cambridge retail park for life-science hub

Minister overturns council refusal as Railpen’s scheme promises £600m economic uplift
6 days ago

Subcontractor competition keeps build costs flat at Berkeley

"Highly competitive tendering" expected to continue next year
6 days ago

Industry calls grow to scrap the CITB

Latest training cuts final straw for a lot of contractors
6 days ago

Green light for major Oxford Circus mixed use scheme

Construction to start in 2029 on revamp of BHS and London College of Fashion site
6 days ago

Coventry to back build of Very Light Rail street pilot

Council set to approve 800m twin-track route in push for rapid-build transport revolution
6 days ago