Rail specialist acts to 'absorb impact of Network Rail's sudden reduction in workload'

Jarvis has announced it will make 450 redundancies as a result of falling workload from Network Rail.

The move will result in a one-off hit of 拢8m and follows a profit warning from the rail specialist last month, saying that results in 2009 and 2010 would be 鈥渁dversely impacted鈥� by the drop-off.

Jarvis also recently announced it would close its freight container services operation at a cost of 拢3m.

Executive chairman Steven Norris said: 鈥淚t has been a painful process to absorb the impact of Network Rail's sudden reduction in workload, but I am confident that by taking the necessary steps early the company can look forward to improved work volumes in 2010 and beyond.鈥�

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