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Kier announces 300 more job losses

Kier has said at least 300 jobs will go at its homes arm meaning the business has reduced staff numbers by nearly two-thirds since the start of the year.

The firm said the job losses - taking overall numbers to around 250 - were due to the continuing and rapid deterioration in the housing market as a result of a collapse in the lending infrastructure.

The company plans to close its offices in St Neots in Cambridgeshire, Borehamwood in Hertfordshire and Glasgow.

At the end of May, the company said reservations at its housing arm had fallen 35 per cent in the previous two months but that it still expected pre-tax profits for the year to 30 June to be in line with expectations.

Top three housebuilder Persimmon is expected to announce the number of jobs it is axing which it said it was looking to chop at the beginning of last month.

The beleaguered company went to subcontractors a second time last week to ask them to knock off money from bills.

A Persimmon spokesman said the company would release a trading update but would not confirm the content of this or reports of 1, 000 job losses out of its 5,500 staff.

Persimmon’s shareprice dropped 7.42 per cent on the London Stock Exchange to 218.50 pence in early morning trading on Monday.

Last week Taylor Wimpey announced 900 jobs losses after a failed bid to secure a refinancing package while Newcastle-based company, Barratt had to tell staff it was going to cut around 1,000 staff position because of the slump.