Shea Construction Inc., one of Spokanes largest general contractors, is cutting its work force after suffering losses on some major recent projects, says David Shea, its founder and president.


Rumors that Shea Construction might close after it finishes its current projects are false, although the company plans to reduce its work force and is selling off some of its equipment because of its losses, Shea says. Also, he says, the company wont pursue any more large, publicly bid projects until it finishes its current work, though it still is taking on some select, smaller projects that are privately negotiated.


We will finish all of our jobs and will fulfill our obligations to subcontractors and will see where we are then, Shea says. Shea Construction will be a different, and smaller, entity than we had before.


The company currently employs about 70 people, Shea says, and he doesnt know how many people it will employ after the transition.


Shea declines to disclose further details about the losses the company has suffered or on what projects they have occurred. He says the company currently has five or six major projects it expects to complete by November.


Shea Constructions largest current jobs include construction of Washington State University at Spokanes $39 million Health Sciences Building, which is being erected at the Riverpoint campus just east of downtown Spokane, and the $28.6 million Lewis & Clark High School addition and renovation near downtown. Those jobs are scheduled to be completed this fall and in August, respectively.


Shea co-founded Levernier-Shea Construction Inc. in 1974, and when that company split in 1986, formed Shea Construction Inc.


Throughout the 1990s, the company consistently was among the largest companies on a list of leading Spokane-area contractors published by the Journal of Business. The company posted its highest dollar volume in 1997, with $56 million in revenues, according to figures for that list. Most recently, it reported $43.4 million in revenue for 1999.