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Sat January 23 2021

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400 jobs set to go as Marshalls restructures

13 May 20 Marshalls, supplier of paving and landscaping products, has opened talks with employees about restructuring plans to lay off 15% of them.

Sales are currently running at 50% of 2019 levels
Sales are currently running at 50% of 2019 levels

The redundancies, which could number 400, are part of a series of restructuring proposals that cover all parts the business. These include selective site closures, changes in shift patterns and proposed changes to the size of and structure of support functions, the company said.

As a result of the impact of the Covid-19 crisis, Marshalls' sales in the first four months through to 30th April were down 27% at £131m (2019: £180m). Sales activity took a steep drop in the last week of March and throughout April.  But things have picked up a little in May and daily revenues are now at around 50%  compared to the same period in 2019.

The company is taking advantage of government support schemes, including the Job Retention Scheme to furlough employees and the deferral of tax payments.

The board and executive management are taking a 20% per cent reduction in remuneration for the duration of the crisis and now senior managers have also agreed a 15% reduction.

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MPU

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