Mouchel under pressure amid spending squeeze
ENGINEERING and outsourcing firm Mouchel today said a spending crackdown by public sector clients after the general election had put the squeeze on the business.
The company, which works with a host of local councils and organisations such as the Highways Agency, said the impact had been felt in "more discretionary" areas such as highways schemes and school building programmes.
Shares in Mouchel fell as much as 10 per cent at one stage as the firm predicted a "difficult" short-term outlook and launched its own cost-cutting drive.
The company, which had 11,100 staff as of July last year, refused to comment on how many jobs were under threat.