Skanska

Skanska UK has confirmed redundancies have been made as the business restructures into three divisions.

Crossrail’s construction is running 20 per cent over budget this financial year, according to Transport for London papers, but the scheme is “still forecast to be delivered within its overall funding”.

North Yorkshire County Council will drag Highways England through the courts in a bid to recover £7m it spent on repairs following the alleged “substandard” construction of a multi-million-pound road.

Skanska’s latest financial results have revealed that group operating profit for construction activities in 2017 declined 66 per cent to SEK1.2bn (£107m).

Skanska will cut thousands of jobs across the group as part of a “comprehensive restructure” following problems in its European operations.

The former chief executive of Skanska Mike Putnam has joined Network Rail’s board as a non-executive director.