Kier chief executive Andrew Davies says Kier is taking the axe to more than 5% of its workforce and selling its housing business blaming the firm’s buying spree of recent years for making the business too diverse


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It’s been a tumultuous 12 months for the country’s second biggest contractor.

The company has been hit by a rights issue, two writedowns, big ticket losses and a revolving door at management level all since last August.

It has also lost 88% of its share price in the past 12 months.