Banking
Banking
- 1993
- Contract Journal 366(5907) 14 January 1993, 1 Construction News (6297) 14 January 1993, 2 Financial Times 16 January 1993, 5(3) .
Banks and lending institutions are telling construction companies to cut back on staff pay, if they want loan facilities to be maintained. The move comes in the wake of Costain staff being forced to take a 5% pay cut after National Westminster demanded a further £11m be removed from overheads. Builders are launching a campaign to persuade banks and building societies not to drive more firms out of business as the industry starts to come out of the recession.
BUILDING SOCIETIES
CONSTRUCTION COMPANIES
FINANCIAL INSTITUTIONS
LOANS
Banks and lending institutions are telling construction companies to cut back on staff pay, if they want loan facilities to be maintained. The move comes in the wake of Costain staff being forced to take a 5% pay cut after National Westminster demanded a further £11m be removed from overheads. Builders are launching a campaign to persuade banks and building societies not to drive more firms out of business as the industry starts to come out of the recession.
BUILDING SOCIETIES
CONSTRUCTION COMPANIES
FINANCIAL INSTITUTIONS
LOANS