Chief executive Ray O’Rourke announced he was ending special measures because the business was returning to full productivity earlier than first expected at the height of the coronavirus crisis.
Around 900 staff will also be brought off furlough next month as projects pick up pace.
Salaries of 8,000 UK staff were cut at the start of April in a ‘war effort’ to combat the impact of lockdown and social distancing.
Cuts were banded with lower pay grades’ salaries cut by 20% and senior management and board directors taking a 30% reduction.
O’Rourke said: “With the business on track to return to full productivity in July, I am delighted to confirm we will return our people to full pay and benefits from 1 August.
“We took difficult decisions in March as we sought to build the business’ resilience and prepare for the worst case scenario.
“This has not materialised, partly because of the strong support the sector has received from Government, but also because of the fantastic response of our people to the crisis.
“Our project teams have maintained high levels of activity during the crisis and our leaders have maximised cash flow and supplier engagement.
“Their skill, dedication and selfless contribution has impressed me daily, and I thank them for their continued support as we accelerate our recovery.”