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Stewart Milne axes 300 staff as housing woe bites

Scottish house builder Stewart Milne expects to axe around 20 per cent of its workforce because of the problems engulfing the market.

The Aberdeen firm’s chief executive, Stewart Milne, said nearly 300 of its 1,430 staff will have to go because of the problems in the housing market.

Scotland has not previously been affected as much as England by the housing downturn but Mr Milne, who is also chairman of the city’s football club, said the bulk of jobs going would be north of the border.

He added: “No one in our sector is immune. The ongoing market conditions have impacted on us.”

This will see 120 jobs disappear at its base in Aberdeen plus a further 73 jobs from the central belt division in Motherwell. And nearly 100 staff would go in England where it has offices in Manchester. The final numbers would be confirmed once the consultation process has been completed.

The company added its contracting arm was unaffected.