RE: Most active share18 Aug 2020 11:52
There is a lot of cost cutting going on within Breedon at the moment. This is right across the board from aggregates side to the ready mixed concrete. This is to counter balance the £50m operating profit loss, that they have faced from the pandemic fallout, that was announced in the half year report. I work for Breedon in the Northern Region (that's as much as i'll disclose), and we have now started to see the first of redundancies from this. There are a number of ready mix plants that have been not been re opened since lock down, across this patch, and the quarries are running at a reduced rate. The unfortunate decision is that staff and job amalgamation is taking place, from management to front line production and sales staff. If this continues then it is going to be a very stretched and over worked workforce. Throw into that the acquisitions from the Cemex deal, and there is likely to be more restructuring to follow. There has also been a freeze on all annual wage increases across the company. Although I believe the first dividend payment will continue as of next year. Interesting times indeed.