Wates makes 300 staff redundant
Wates Group has announced it will reduce staff numbers by 300 in line with new forecasts as a result of coronavirus.
The development company launched the mass redundancy programme this week.
It will reduce its workforce by 8%, in line with forecasted activity in the aftermath of the pandemic.
Wates Group has announced it will reduce staff numbers by 300 in line with new forecasts as a result of coronavirus.
The development company launched the mass redundancy programme this week.
It will reduce its workforce by 8%, in line with forecasted activity in the aftermath of the pandemic.
Chief executive David Allen said: “We cannot escape the economic consequences of the pandemic.
“In taking this difficult step, we will match the size of our business to our forecasted levels of activity, ensuring we continue to offer services of the highest quality and best value to our customers, and remain one of the most financially resilient and sustainable businesses in our sector.”
On 2 April, Wates furloughed a third of its employees and implemented pay reductions.
Allen said: “We acted quickly to protect our people’s jobs.” He noted that while other sectors were closed down, government had encouraged development and construction to continue but to adopt new operating procedures.
He added: “The coronavirus has changed our lives in ways that were unimaginable at the beginning of the year.”
The announcement follows the news last week that the government’s furlough scheme is to be extended until the end of October, with employers to shoulder the costs from July.
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