Severfield announces 70 job losses at Bolton

Structural steel group Severfield is to shed up to 70 jobs at its site in Bolton where about 250 workers are currently employed, TheBusinessDesk.com understands.

Management of the London Stock Exchange-listed company informed staff this afternoon (Monday February 26) and said where possible staff would be redeployed at its headquarters in Dalton, North Yorkshire.

The news comes just two months after the company announced it had been awarded a landmark contract on the new Google headquarters at King’s Cross in London, adding to its £245m order book.

The company is also actively working on a multi-million pound contract at Tottenham Hotspur’s new stadium and recently completed a contract at the Ordsall Chord rail link in Salford.

In the six months to September 30, 2017 Severfield’s revenue up 16% to £137.1m (H1 2016: £118.2m) while underlying profit before tax was up 59% to £12.9m (H1 2016: £8.1m).

TheBusinessDesk.com has contacted Severfield for comment.