McGee blames mothballed projects for 40 redundancies
Demolition firm McGee has become the latest company to suffer the bite of the credit crunch, after announcing staff cut-backs.
Ian Reeves CBE, executive chairman of the McGee Group confirmed around 10% of staff had been made redundant, and added the firm had also reduced its fleet of vehicles, from around 60 down to 40.
One of the firm’s safety directors was also among the 40 made redundant.
Reeves said the company had suffered as a result of clients scaling back or mothballing projects during the economic downturn.
He added: “Last year’s turnover was up by 40% , and we were expecting to see a similar amount this year, but we have had to reassess things because of the credit crunch.”
