Steel fabricator Cleveland Bridge, which fell into administration last month, has cut 53 jobs.
The majority of the roles are office based, according the business advisory firm FRP, which was appointed to oversee the firm’s affairs on 22 July.
The business is currently up for sale and FRP said the redundancies had been made for “operational and financial reasons”.
Meanwhile, 25 staff remain at work at the company, after it was announced it would restart production. The remaining 128 roles remain furloughed as part of the Coronavirus Job Retention Scheme until production restarts. FRP said a “handful” of staff have since left their positions voluntarily.
Martyn Pullin, partner at FRP and joint administrator of Cleveland Bridge UK, said: “We remain focused on restarting production to support clients with live project work while pushing forward ongoing talks with interested parties.
“Regrettably, a number of roles have been made redundant as we restructure the business. Our team is on site to support impacted staff through this difficult period and assist in making claims through the Redundancy Payments Service.”