Sandie Seward
|
Jarvis shunts 450 jobs.Jarvis, the railway maintenance group, warned this morning that full year results would be below expectations as it axed 450 jobs.
The company has been hit by a fall in demand for its services from Network Rail, its largest customer, which is cutting back on its spending programme.
It said that since the start of the year its trading performance had declined further because of the significant delay and reduction in workload following the completion of the west coast route modification programme.
Due to the poor performance of its rail business and freight container division, which it said it was closing earlier this month, the group warned that annual operating results would fall below previous management expectations.
|
