February 5, 2018 / 11:08 AM / 9 months ago

Another 452 jobs to go at collapsed UK builder Carillion

Feb 5 (Reuters) - Another 452 jobs are to be cut at collapsed British construction and support services company Carillion, the organisation that manages insolvencies for the British government said on Monday.

This comes on top of the 377 jobs losses announced on Friday. The organisation also said then that 919 positions had been saved.

Carillion, which employed around 20,000 people in Britain, collapsed on Jan. 15 when its banks halted funding, triggering Britain’s biggest corporate failure in a decade and forcing the government to step in to guarantee public services from school meals to roadworks.

As Britain grapples with the fallout, the government as well as private partners and lenders to Carillion have announced measures to assist its suppliers and its employees.

While the British Business Bank has agreed to provide up to 100 million pounds ($141 million)of lending to small businesses and workers affected by Carillion’s liquidation, some of Carillion’s joint venture partners, including Kier, have brought on board some of its staff.

Britain’s Official Receiver said the job cuts announced on Monday were across the country and related to private and public contracts that were being managed by Carillion, as well as some back-office functions.

People who had lost their job would be entitled to claim redundancy payments, it said, adding it had managed to protect 100 more jobs linked to public sector contracts.

The organisation is part of Britain’s Insolvency Service, an executive agency of the government’s Department for Business, Energy & Industrial Strategy.

$1 = 0.7088 pounds Reporting by Esha Vaish in Bengaluru; Editing by Mark Potter

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