Mitie to cut £45m in costs as staff numbers tumble

Mitie has seen staff numbers fall by more than 3,000 as it continues a cost-cutting programme in a bid to stem losses.

Accounts for the full year to March 31 reveal the number of employees across the group fell to 56,279 from 59,332 in 2016.

Mitie confirmed that it racked-up an operating loss of £42.9m during the year from a £107.6m profit as turnover remained stable at £2.14bn.

The losses followed a major accounting review which led to less bullish reporting of contractual positions.

Mitie is now in the middle of a £45m cost reduction programme know as Project Helix.

Chief executive Phil Bentley said: “This has been a challenging year for Mitie.

“We have reported a loss as a result of the one-off accounting adjustments arising from the Accounting Review.

“We are now focused on the future of the business and I am encouraged that our Order Book has held up and our Pipeline is growing.

“Following a full strategic review we are investing in technology in the workspace to meet our customers’ evolving needs and we are embarking on a major cost reduction programme.

“With the support of our 53,000 colleagues, we will take Mitie “Beyond FM…to the Connected Workspace”.

from Construction Enquirer http://www.constructionenquirer.com/2017/06/12/mitie-to-cut-45m-in-costs-as-staff-numbers-tumble/

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