Bachy Solentanche, one of the UK’s largest geotechnical specialists, is set to make over 15% of its workforce redundant.
Staff at the firm are undergoing consultation to determine which jobs will be sacrificed, with voluntary redundancies being sought by the management team.
Bachy operations director Phil Hines admitted that rumours that up to 90 of its 510 staff could go were “in the right ballpark”.
The piling and foundations contractor, who reported £28M growth in turnover over the last financial year, had seemed immune to the downturn.
A challenging year
“Major projects such as London’s Pinnacle tower and the Tyne Tunnel have finished. This has drastically reduced activity and sadly there is no way to keep all staff busy,” said Hines.
This decision comes in stark contrast to six months ago when a buoyant Bachy announced it was actively recruiting staff (NCE 4 December 2008).
“London’s Pinnacle tower and the Tyne Tunnel have finished. This has drastically reduced activity and sadly there is no way to keep all staff busy.”
Phil Hines, Bachy Solentanche
“Life is far more challenging this year and the order books are nowhere near as healthy. We, like many in the industry, were hoping some of the major infrastructure projects in development would come to fruition,” said Bachy business development manager Paul Hodgson.
Bachy is the latest in a long line of geotechnical companies who are feeling the effects of the downturn.
Roger Bullivant, who pre-credit crunch was the UK’s top earning geotechnical contractor, has shed 180 staff over the past year. Stagnant housing and commercial markets have seen the geotechnical industry falter.