NFC jobs on the line as
22nd June 1995, Page 7
22nd June 1995
Page 7
Page 7, 22nd June 1995
— NFC jobs on the line as
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figures slump by £50m
• Drivers at transport group NFC face an anxious few months with hundreds of jobs due to go.
New chairman Sir Christopher Bland confirmed that cuts would be made as he unveiled figures showing a slump from £50.7m profit to a £200,000 loss in the half-year to 15 April.
NFC employs 34,000 people and cuts will be across the businesses and at all levels, says new chief executive Gerry Murphy.
The main cause of the latest loss was a £35m exceptional restructuring provision, enabling NFC to close loss-making operations such as its vehicle distribution arm.