24%

of construction companies reduced their headcount in the second quarter of 2014. This information comes from a new monitoring survey of the business climate in the construction industry conducted by the Centre for Business Tendency Studies at HSE ISSEK.

Layoffs at these companies took place against the backdrop of falling demand for construction work. Virtually one out of three construction industry representatives noted a reduction in the overall amount of work compared to the preceding quarter. One out of five companies in the sector suffered from insufficient financing.

Source: HSE website