Kier chief executive Andrew Davies says Kier is taking the axe to more than 5% of its workforce and selling its housing business blaming the firm鈥檚 buying spree of recent years for making the business too diverse

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It鈥檚 been a tumultuous 12 months for the country鈥檚 second biggest contractor.

The company has been hit by a rights issue, two writedowns, big ticket losses and a revolving door at management level all since last August.

It has also lost 88% of its share price in the past 12 months.

Read: Government under fire as Kier misses pay targets on public jobs

Read: Kier takes axe to 1,200 jobs and pulls plug on host of businesses

A timeline of Kier鈥檚 financial problems

Dave Rogers: Kier and the C-word - Carillion comparisons increasingly dog the struggling contractor 

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