Between 20 000 – 40 000 jobs could disappear in the building industry

The current financial turmoil could lead to massive layoffs in the building industry. Some estimates shows that as many as 20 000 jobs could disappear, other estimates indicates that the number could be as high as 40 000.

Building industry suppliers have already started to notice the effects of the slowdown in the market. Building projects that have been started will be completed, but very few new projects are likely to go ahead as planned and big layoffs seem unavoidable.

A reduction of 15-20 percent of the workforce could be the result.

Source: Stavangeravisen.com