‘I’m at a loss about what to make of it all’ – Will Lendlease disappear from UK construction, and what would that say about the state of the sector?

By Dave Rogers2024-06-07T07:03:00

A sale has to happen quickly or staff will leave and jobs will disappear, say rivals. Dave Rogers looks at the implications of the decision to sell up – or shut down

For most of Lendlease’s 700 staff in the UK, the first they heard that the business they worked for was up for sale was over the Bank Holiday weekend at the end of last month.

A story would be appearing in the Australian financial press on Monday morning – the country is nine hours ahead of the UK at this time of year – reporting that Lendlease was retrenching and pulling out of overseas markets, including the UK and US, to concentrate on its domestic business. Staff were briefed about the news that weekend, leaving some to wonder about the timing of the announcement given it was also a public holiday in the US as well.

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