Home Commercial News Costain continues with critical projects while imposing salary cuts for high cadre

Costain continues with critical projects while imposing salary cuts for high cadre

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Costain continues with critical projects while imposing salary cuts for high cadre

The crisis of the coronavirus pandemic has a huge impact on the construction industry in the UK. The organization Costain reveals to take the significant projects forward to reduce the impact of the novel coronavirus. However, the announcement on 30% deduction among the senior director salaries working at Costain is confirmed.

The critical projects would be running as 50% of group revenue to be gained, and thus reduce the impact on construction sites shutdown. The company said that the effect is higher in the industry while it added that it will continue with strict safety procedures while handling the projects.

Costain’ s  Chief Executive Officer (CEO) Alex Vaughan said that the industry had witnessed little or no change in demand for consultancy services in a few sectors. The sectors include energy, defence and aviation that represent up to 10% of annual revenues.

The company said the hardest impact was on its London jobs for now. The on-site construction has been paused on Crossrail, HS2 Enabling Works and Thames Tideway contracts, pending further review, at the request of clients. The firm’s CEO said that these on-site activities measured a 1/3rd part of the revenues.

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