Foster + Partners has announced it will be cutting about a quarter of its staff and closing offices, due to the impact of the global economic crisis on the construction industry.
The firm, currently the world’s number three, intends to reduce its staff to fewer than 1,000 by cutting about 400 jobs across 17 offices worldwide, with those in Berlin and Istanbul closing altogether by March.
The firm, which is responsible for London landmarks the Gherkin tower, City Hall and the new Wembley Stadium has been hit by a sharp fall in construction projects around the world.
A number of high-profile projects have been put on hold or scaled back due to the global economic crisis. A 118-storey tower in Moscow was cancelled late last year, while a skyscraper at the site of the World Trade Center in New York has now been put on hold.
By staff writer.