TROUBLED engineering firm BiFab is closing in on an investment deal that could secure its future but is facing a race against time to get it away before having to lay off the 750 agency staff currently on its books. The firm, which manufactures large-scale components for the oil and gas, renewables and infrastructure industries, will run out of work at the end of March, when its contract on the Beatrice Offshore Windfarm comes to an end. It has already reduced its staff headcount from 1,400 to 1,000 in anticipation of this. While the firm plans to keep on all 220 of its directly employed staff, unless new work can be secured the agency personnel brought on board to work on Beatrice will be laid off when their fixed-term contracts end. According to a spokesman for BiFab, attracting additional funding is essential if the firm is to stand a chance of winning any new work.
Herald 26th Jan 2018 read more »