Redundancies come as steel specialist implements restructure
Steel specialist Severfield-Rowen has announced plans cut around 93 jobs.
The firm said the job losses resulted from its ongoing restructure to integrate three of its UK businesses into newly-formed Severfield-Watson Structures.
The redundancies will be in the firm鈥檚 manufacturing facilities at Lostock, Lancashire, and at its commercial offices in South Normanton, Derbyshire.
A company spokesman said: 鈥淭oday鈥檚 announcement is a necessary step to address underlying operational inefficiencies within the business and allow the wider Severfield-Rowen Group to compete effectively in the challenging UK construction market.
鈥淚t marks the conclusion of the previously announced reorganisation process at the Severfield-Watson business and will provide a level of operating capacity that is appropriate to prevailing market demand levels鈥�.
The firm announced in November that it was merging three of its businesses 鈥� Severfield-Rowen Structures, Watson Steel Structures and Steelcraft Erection Services.
The UK鈥檚 largest steelwork contractor has had a difficult 12 months, including a 拢48m rights issue, a 拢20m hit to profits from cost overruns and the resignation of chief executive Tom Haughey.
Severfield-Rowen has been hit by cost overruns on some of its largest projects, including the Shard and the under-construction Cheesegrater tower.
Chairman John Dodds stepped in to run the firm as executive chairman in January.
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