Kier Living sale put on hold

Kier is stopping work on its Kier Living housebuilding sites and pausing the process of selling off the Kier Living business.

The firm says it has implemented a number of measures to enable the group to continue operating as efficiently as possible in the current crisis. “These include about 6,500 employees, including the executive committee and the board, taking a reduction of between 7.5% and 25% in their base salaries or fees for a three month period beginning on April 1 2020 and bringing forward the closure of our head office at Tempsford Hall to April 30 2020. We recognise that the situation is changing rapidly and will continue to review our plans to mitigate the effects of the pandemic.”

Kier’s cost saving programme is set to deliver “at least £65 million of savings” for the financial year ending June 30 2021.

Kier said that across its business trading from January 1 2020 to date has been in line with expectations. “Approximately 80% of our sites or workplaces continue to operate, although we recognise that this may change. We continue to receive support from our major customers, including Highways England, the Ministry of Justice and various utilities …