John Sisk & Son is consolidating its southern construction business due to “challenging market conditions”.
The contractor is in a consultation period with staff and expects to make around 30 redundancies in the South, it said.
A spokesman for the company said: “The Sisk UK South regional construction business is determined to remain competitive and meet the challenging market conditions this year with a strategically focused but reduced workload.
“It has therefore become necessary to consolidate this business and, unfortunately, the company envisage they may have to make approximately 30 redundancies in order to achieve this consolidation.”
In its latest accounts for the year to 31 December 2014, the company posted a 24 per cent increase in revenue to £343.8m.
However, the contractor had to pay £300,000 of tax on its £1.6m profit for the period, meaning its profit after tax fell to £1.3m from £2m the year before.
The firm also had to pay out exceptional costs of £121,391 for redundancy payments in 2014.