{"id":3802,"date":"2019-03-08T08:07:13","date_gmt":"2019-03-08T08:07:13","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=3802"},"modified":"2019-03-08T08:07:13","modified_gmt":"2019-03-08T08:07:13","slug":"sig-gets-rid-of-51-senior-managers","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/sig-gets-rid-of-51-senior-managers\/","title":{"rendered":"SIG gets rid of 51 senior managers"},"content":{"rendered":"

A cull of senior management at SIG is paying off as the materials distribution giant returned to profit after a series of losses.<\/p>\n

Results for the year to December 31 2018 reveal a pre-tax profit of \u00a328.5m compared to a \u00a354.7m loss last time as turnover dipped to \u00a32,741.9m from \u00a32,878.4m.<\/p>\n

SIG said its leadership team was overhauled as part of an ongoing transformation programme in response to previous losses.<\/p>\n

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Over the last two years 51 out of 78 senior managers have left the business.<\/p>\n

Back office costs have also been slashed and total staff numbers fell 20% to 8,260 from 10,383 with “further headcount reductions” expected this year.<\/span><\/p>\n

SIG Distribution – the Group’s specialist distributor of insulation and interiors products in the UK – delivered \u00a320.9m of operating profit in 2018, up from \u00a33.5m in 2017.<\/p>\n

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