It’s one of the world’s most successful and best-known architecture practices, but market uncertainty appears to be taking its toll on Battersea-based Foster + Partners.
Norman Foster’s celebrated firm – the biggest practice in the UK – has confirmed it is planning a number of redundancies as part of a “restructure”.
Construction News is reporting this morning that cutbacks could affect “under 100 staff”, mainly based at the London HQ in SW11. A statement from the firm read: “Foster + Partners has grown significantly over the last two years with a record number of projects, many of which are now close to completion.
“This, coupled with some uncertainty in the construction market, has led us to make some adjustments to our practice, which regrettably includes some redundancies enabling us to balance numbers with our current and foreseeable workload.”
1,265 staff were employed at the London campus as of April 2016, according to the latest set of accounts, with a global headcount totalling 1,500. The results, released in November, confirmed a £10m year-on-year drop in EBITDA, from £51m to £41m.
The firm’s biggest hits have included Beijing International Airport, London City Hall, The Gherkin and the Millau Viaduct, while current projects include Phase 3 of the £9bn Battersea Power Station scheme.
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