The Coleman Group has announced it will restructure as a result of the impact of the pandemic, as the company looks to reduce headcount
The review and redundancies were prompted by the significant disruption of the pandemic and particularly the cancellation of the group’s largest single project – the transformation of the Broadmarsh Shopping Centre in Nottingham.
Other projects paused but not cancelled include work at Euston station for HS2, the Coventry Point office block deconstruction, and work for the National Grid.
A consultation programme on the level of redundancies is currently underway which will determine which roles are at risk.
Operating more efficiently
Commenting on the redundancies, group chief executive Mark Coleman, said: “It is devastating that good people will be leaving us as a result of this restructure, but like many other businesses in the UK we have faced the most difficult and challenging trading conditions of our lifetimes.
“We foresee our business as operating more efficiently with annual revenue of £12m – £15m, compared to the current level of £25m.
“We see a future where our management expertise remains at the core of our capabilities. By leveraging industry partnerships, we will become more cost-effective and flexible.
“After 57 years in this business we have a wealth of knowledge, robust client relationships and a strong heritage to draw on.
“We will emerge from this restructure not just nimbler – and with a more scaleable model – but as leaders in the use of technology and smart partnerships to deliver the most efficient and effective results for our clients.”