Jan 15, 2018

Carillion Collapse Raises Job Fears

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Carillion collapse raises job fears

I was watching the BBC business news this morning when they suddenly announced, “Carillion is to go into liquidation”. Employees of Carillion have woken up this morning to find the secure jobs they had are now under threat, one has to hope the liquidators will find a solution to keep them all in post. Our thoughts and best wishes go out to everyone affected.

“The move came after talks between the firm, its lenders and the government failed to reach a deal to save the UK's second biggest construction company.

Carillion ran into trouble after losing money on big contracts and running up huge debts.

Its failure means the government will have to provide funding to maintain the public services run by Carillion.

"All employees should keep coming to work, you will continue to get paid. Staff that are engaged on public sector contracts still have important work to do," said government minister David Lidington.

Carillion is involved in major projects such as the HS2 high-speed rail line, as well as managing schools and prisons.

It is the second biggest supplier of maintenance services to Network Rail, and it maintains 50,000 homes for the Ministry of Defence.

For the full story http://www.bbc.co.uk/news/business-42687032

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