What has forced Kerry London to take action?
The economic downturn has hit certain sectors hard, but the construction industry has been one of the worst affected.
Now, it appears the lack of activity in trades such as construction is being felt by those who rely on their business.
Kerry London, one of the largest independent brokers in the UK, and a top 50 broker, is construction through and through. With building firms and tradesman feeling the pinch, it is no surprise that the broker has had to take a long hard look at its business and take immediate action.
After a review of the company, it will now align its business to take full advantage of the one thing that matters most – the client. It has remained coy on how exactly its new business model will take shape, but its construction division could bear the brunt of any job cuts. With that sector currently stagnant, one would pose the question whether it needed the resource to deal with new business, or as it seems, the lack of it?
The company said: "The new model also takes account of the industry need to ensure controlled growth within a disciplined cost structure and as a result some divisions within the company may be subject to a reduction in staff so as to develop those areas identified as growth opportunities."
Instead, it is likely to place greater emphasis on its other associated businesses within the wider group structure and the company is confident that it can achieve growth on a national and international level.
Kerry’s chief executive Damian Kissane, who was only appointed to the role in October last year, has had to weald the axe early but with the economy showing no signs of recovery, it could just turn out to be the company’s saving grace.
See story: Kerry London keeps quiet on job cuts in restructuring
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