Tally for Practicing CAs Gold Edition (Multi User) Tally for CAs in Industry Silver Edition (Single User) Tally Renewal (Auditor Edition) Need Tally for Clients? (Tie-up with us!!!)
General »
 Cut in states share in tax may become next big flashpoint
 File your Interest Tax Return for AY 2020-21 on time or face a fine of Rs 10,000
 What changed for the market while you were sleeping? Top 10 things to know
 I-T department keeps tolerance range for transfer pricing unchanged
 Income tax rules for annuity received from LIC
 Should you opt for the LTC cash voucher scheme? Here's how much tax you will save
 Income tax refunds worth over Rs 1.23 lakh cr issued to 38.11 lakh taxpayers till Oct 13: CBDT
 Refund to be disbursed in a Validated Bank Account linked with PAN & Aadhaar of the registrant, says Finance Minister
 Key tax changes to kick  in today
 All you need to know about the Vodafone-India tax dispute
 Faceless Income Tax Appeal: Will it bring transparency, reduce corruption?

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 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting