WSP sheds 227 UK staff as spending cuts bite

Grant Prior 13 years ago

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

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