follow us:Google+FacebookLinkedInTwitterVimeoRSS Feeds

advertisement

Business: Michael Baker Corp. posts $2.3 million quarterly loss

Source: Pittsburgh Tribune-Review

- Last modified: March 6, 2013 at 9:23 AM

Back to Top Comments Email Print

Michael Baker Corp. expects revenue to decline 4 percent to 5 percent this year largely from tighter public budgets for its engineering and construction services, the company said Tuesday after posting a quarterly loss.

Based in Moon Township, Michael Baker executives said state and federal belt-tightening — along with funding uncertainties from government sequestration cuts that began Friday — would dampen revenue this year.

To offset lower revenue, Michael Baker expects to save about $1 million this year in occupancy costs by shuttering an unspecified number of small project offices, said spokesman David Higie. He could not say how many jobs could be cut as a result. The company eliminated 150 jobs last year in a cost-cutting initiative that reduced operating costs by $21 million.

The company has at least one office in the midstate.

Continue reading.

 

 

 

 

 

 

advertisement

Comments


Be the first to comment.



Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
     View Comment Policy
advertisement
  
  
advertisement
  
  
advertisement
Back to Top