Firm cuts jobs in its aerospace, environmental and water businesses
Consultant Atkins has cut jobs in the UK and European business in response to 鈥渦tilisation issues鈥�.
In a trading update to the City this morning, the firm reported that it had taken people out of its aerospace, environmental and water businesses.
It said: 鈥淲e have responded to utilisation issues in our aerospace and water and environmental businesses by making staff reductions and redeploying staff in both businesses during the first half.鈥�
The firm said that ongoing demand for its services in other areas was 鈥済ood鈥�.
Atkins also reported it had incurred 拢4.5m of exceptional costs since April 2014 on an 鈥渦nsuccessful pursuit of a significant acquisition opportunity鈥�.
It is likely the costs relate to the firm鈥檚 bid to buy consultant Parsons Brinckerhoff from Balfour Beatty, in which Atkins lost out to rival WSP, but Atkins did not confirm this.
Atkins also said it had completed a restructure in its North American business and margins would improve this year, although it said it expected to see little improvement in the business鈥� results for the six months to 30 September.
It added that its Middle East business had had a 鈥渟trong first half鈥� to the year.
It said: 鈥淭his is expected to contribute to a significant year on year performance improvement for the region.鈥�
Atkins said that overall the firm鈥檚 outlook for the year 鈥渞emains unchanged鈥� despite currency headwinds in the period to date鈥�.
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