Sisk to repay Covid-19 staff wage cuts

Aaron Morby 2 months ago

Around 600 staff at John Sisk are to see deductions taken from salaries during the coronavirus crisis repaid in full.

Sisk chief Steve Bowcott has announced coronavirus wage cuts will be reimbursed for all staff
Sisk chief Steve Bowcott has announced coronavirus wage cuts will be reimbursed for all staff

The contractor has told staff that temporary pay cuts during April, May and June will now be returned in a bumper pay round next month.

The surprise announcement comes as all staff are also returned to full salaries in the UK.

An insider told the Enquirer: “This is great news for everybody. Its been a tough few months and this is a real bonus for us.

“We were told the repayment is recognition for the huge effort and commitment of our people during the crisis.”

Sisk is the first contractor to take the step of reimbursing wage cuts as impact of coronavirus on the business becomes clearer.

The firm was one of the first to announce a round of 50 jobs cuts as it took part in an industry-wide slimming down.

In 2019 financial results published last month, Sisk chief executive Steve Bowcott, said: “At this time, we estimate that the main financial impact of Covid-19 will be to defer some revenues from 2020 into 2021 due to the temporary closure and/or slowdown of live construction projects, particularly in the Irish market.

“The group has a strong capital structure with high levels of un-committed cash and no bank debt.

“As a result, the board believes that the group is currently well-positioned to deal with challenges Covid-19 might have on its activities.”

Across the Sicon Group – parent company for all of Sisk activities in Ireland, UK and overseas, turnover grew by 19% to just under €1.4bn, with pre-tax profit up 10% to €31m.

The UK business raised revenue a third to €728m.

Latest news

Places on £5bn Welsh housing framework up for grabs

South and Mid-Wales housing framework to cover all sizes of projects
11 hours ago

Over £1bn worth of Manchester schemes get green light

Historic planning meeting approves BAM indoor arena and four major housing schemes
18 hours ago

Nmcn boss John Homer steps down

Civils contractor confirms sudden departure of CEO
16 hours ago

Crossrail chiefs plan another construction blockade

Another period of 24/7 working planned after success of 53-day summer surge
1 day ago

West Midlands firms wanted to work on HS2

Online event will highlight thousands of contract opportunities: Register now
18 hours ago

Green light for £120m Great Yarmouth River Crossing

BAM/Farrans JV to start lifting bridge project early next year
17 hours ago

Robo cone layers go live on Kier road job

Automated cone laying vehicles tested for first time on site
18 hours ago

Construction sites face crackdown on dust dangers

HSE month-long blitz will also check sites are Covid-secure
18 hours ago

Contractors urged to adopt NHS Covid app

QR codes on site entrances to help contact tracing authorities
2 days ago

Sunak unveils new emergency jobs support scheme

Chancellor also gives companies an extra four years to pay back Covid loans
2 days ago

Builders’ merchants sales confirm strong V-shaped recovery

Monthly sales in July just 1.3% below same time last year
1 day ago

Construction’s most considerate contractors revealed

Top industry performers recognised at virtual awards ceremony: Full details
2 days ago

Contest starts for £1.4bn Scottish highways upkeep

Bidding starts for north west and north east highways upkeep
2 days ago

Green light for £200m Kent business district

Developer U+I finalises planning for 800,000 sq ft Tunbridge Wells scheme
2 days ago

SIG makes a £125.4m pre-tax loss in first half

Materials distribution giant aims to stem losses during rest of 2020
2 days ago

Plans in for 18-storey Sheffield tower

St Mary's Gate student block will rise to 18 storeys
2 days ago

B&K wins first £18m job for new Peterborough Uni

Work on 60,000 sq ft building to start shortly following council land transfer
2 days ago

Green light for £650m Nottingham regen scheme

McAlpine to start work on first phase of 40-acre site in November
2 days ago

Vinci wins £14m Macclesfield cancer centre

Civils specialist Cidon starts work on the The Christie at Macclesfield project
2 days ago

BAM installs Covid killing spray tunnel on site

Workers treated with dry mist as they access major London site
3 days ago

Plan for £270m Leeds Lisbon Square scheme

Council names developer for city centre flats, hotel and office scheme
4 days ago

HS2 tells contractors to cut CO2 by half

Costain Skanska claims first use of zero carbon concrete in London
3 days ago

Plans to be lodged for £200m London eye hospital

First look at new Moorfields building design as bidding starts
3 days ago

Van Elle branches out into plant operator training

Two key plant operator card schemes back new training centre
3 days ago

Race on for £45m Greenwich council housing scheme

Work to start on four blocks at Kidbrooke in March
3 days ago

CityFibre calls in Bechtel to speed up £1.5bn work plan

CityFibre to award major construction contracts in coming months
4 days ago

Countryside to build private rental homes in London

Rental homes deal with Sigma and investor EQT to advance London schemes in tougher market
4 days ago

Billington keeps in profit after 30% revenue plunge

Steelwork contractor reports orders at near historic levels
4 days ago

Watchdog finds apparent breaches in KPMG Carillion audit

Initial report sent to KPMG for comment before decision on further action
4 days ago

Winvic trials new AI site safety zone system

Workers will be warned when they stray into computer generated danger zones
4 days ago

Contractor services