黑洞社区

Balfour Beatty has already cut up to 400 back office jobs as part of its cost-cutting drive that began at the start of the year, chief executive Leo Quinn has said.

Quinn told analysts in the firm鈥檚 half-year results presentation yesterday that 鈥渢hree to four hundred鈥� jobs had been cut so far and back office department budgets had been 鈥渉alved鈥�.

The cuts are focussed on Balfour鈥檚 back office functions - including finance, IT and legal - and 鈥渟tripping out layers of senior management鈥�, Quinn said, stressing the firm was 鈥渇ocussed on retaining frontline capability鈥�.

Under Balfour鈥檚 鈥楤uild to Last鈥� turnaround programme, the firm is aiming to cut 拢100m of cost out of the business by the end of next year. .

.

.

On the analysts鈥� call yesterday, Quinn also revealed the firm was considering scaling back its rail work, saying: 鈥淲e need to find a way we can make a return there, or we won鈥檛 operate in those markets.鈥�

Commenting on Network Rail - - Quinn said: 鈥淚t鈥檚 very very challenging as an organisation, very difficult to work with, very difficult to make a return.

鈥淸We鈥檝e been] looking at withdrawing from contracts we were making losses on. There鈥檚 no point in being a busy fool.鈥�

In the power sector, he said Balfour would look to 鈥渞enegotiate some of our contracts鈥� to get better deals.

He also said the firm is setting up more 鈥渟trategic partnerships鈥� with suppliers to ensure 鈥渨e鈥檙e reserving capacity for the future, rather than looking at short term gains.鈥�

Quinn also advised that he did not expect the government鈥檚 planned introduction of a living wage to impact the business, .

Quinn said: 鈥淲e don鈥檛 see that having an impact. It鈥檚 not something we鈥檙e looking at. But if that changes we鈥檒l let you know.鈥�

Commeting further on 鈥楤uild to Last鈥�, Quinn said: 鈥淲e鈥檝e been around for 100 odd years. It鈥檚 my intention that we鈥檒l be around for another 100. So we鈥檙e putting in the right foundations and building on it.鈥�