Total number of Carillion job losses passes 1700
A further 123 job losses at engineering giant Carillion this week has brought the total number up to over 1700.
Following the collapse of the company in January of this year, more than 9,000 employees have been found ongoing employment. However, over 1700 have left or are due to leave the company.
This week, it was announced that a further 481 employees have been transferred to new suppliers picking up contracts that Carillion had been delivering.
The UK’s second-largest construction company, went into liquidation after suffering from huge financial problems.
Since July 2017, share prices in the company have been steadily decreasing and it is argued the collapse came after Carillion undertook a large number of contracts that proved to be unprofitable, with delays in payment from the Middle East meaning the firm was losing money, whilst unable to pay debts and pensions.
More than 6,400 jobs have been retained in order to allow Carillion to continue delivering services it is currently providing. This is whilst decisions are made surrounding the fate of these contracts.
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