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Mon August 03 2020

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BAM announces redundancy round

7 Jul BAM Construct UK is the latest contractor to announce a round of redundancies in the wake of the Covid-induced economic slowdown.

Up to 150 jobs could go, equating to 6.5% of the workforce.

BAM Construct UK said: “We take this step reluctantly and with deep regret. Our people are what make BAM the most collaborative built environment enterprise in the UK. We will redeploy people if possible to other parts of our business or to roles within the wider group.

“If we cannot redeploy somebody and redundancy is the only option, then we will support them in the best way we can during the process and as they leave the business.

“BAM has striven to avoid making redundancies, having taken early actions to combat the effects of Covid-19, with measures including furloughing almost 500 staff, making temporary pay cuts, stopping recruitment, and cancelling bonuses and all non-essential spending.

“We have continued to win profitable new business which has also reduced the scale of redundancies.

“The coronavirus however is significantly affecting demand. We are already seeing a slowdown in new orders and we anticipate this will have an impact on our 2021 revenue. 

“We must therefore protect our business and future staffing levels. Further reducing costs will help us retain our strong balance sheet and good liquidity, protect remaining jobs, and remain competitive and well-placed to serve our clients.”

A survey by Build UK last month found that main contractors expected to  lay off 11.4% of their staff, on average, in the wake of the lockdown.

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