sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 RBI-Special Deposit Scheme (SDS)-1975 Payment of interest for calendar year 2018
 How senior citizens can avail tax break on interest income under Sec 80TTB a
 Listed companies paid a little less than a third of corporate tax in FY18
 Gifts received from relatives are not taxable
 Income tax return benefits: National Pension System (NPS) also offers this 'hidden' tax relief
 Big 4 audit companies may suffer revenue hit due to conflict of interest norms
 How much tax do you pay on your bond investments?
 Companies rush to reconcile financial results with state wise audit, seek extension of deadline
 Interim budget may include income tax announcements, says report
 All you need to know about tax benefits for senior, super senior citizens
 Where to invest money for the short term

PwC, the administrators have axed more than 700 jobs
November, 11th 2010

PricewaterhouseCoopers (PwC), the administrators to failed building group Rok, have axed more than 700 jobs.

PwC said the redundancies were due to "little or no interest" in parts of the business from prospective buyers or "insufficient work for staff to carry out". Of the 711 cuts, 558 are in the maintenance and improvements division.

PwC was called into Rok on Monday after the company, which works on construction projects and repairs buildings for insurers and councils, shocked the City by collapsing.

Mike Jervis, joint administrator, said more than 100 expressions of interest have been received from potential buyers of Rok or its contracts.

PwC is reducing this to a shortlist. Mr Jervis added: "We are short-listing bidders on the basis of their size, level of interest in acquiring large parts of the business and their speed of reaction. We expect to have further updates by the end of the week."

Rok, which employed 3,800 people, is understood to have suffered a "tightening of credit" from suppliers and customers after issuing a profits warning in August. A last-minute attempt to secure emergency financing failed at the weekend, it is understood.

Mr Jervis said PwC had offered axed Rok staff the "opportunity to attend a site in person or take part in a conference call".

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions