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Welsh job losses continue

In April 2008, I compiled a list of the job losses in Wales since May 2007.

Today, we saw 157 job losses announced at AB Electronics in Cardiff. Since the last tally in April, the following job losses have been announced

April
Corus, Llanelli, 300 jobs
Fenmarc, Wrexham, 190 jobs
Kimball, Bridgend, 160 jobs

May
Western Corrugated, Cwmbran, 60 jobs
Georgia Pacific, Bridgend, 46 jobs
Flexsys, Wrexham, 163 jobs
Nemo Personal Finance, 70 jobs
JCB, Wrexham, 56 jobs
David Mclean, 30 jobs

June
Kingspan, Blaenau Gwent, 59 jobs
Paramount Foods, Deeside, 150 jobs
Ventura, Cardiff, 600 jobs

July
Zurich, Cardiff, 70 jobs
AB Electronics, 157 jobs

That equates to over 1700 jobs in just over three months. This, of course, only covers major announcements and does not include any redundancies in construction and retail which have also been going on during the same period.

I believe the reality of the current position of the Welsh economy has yet to hit home. Yes, new jobs are being supported through WAG grants but they do not compensate for the employment lost within existing firms in Wales.

We need to rethink our economic strategy and work alongside existing firms based in Wales to examine how value can be added to their business so that they remain here to develop their new products or services. It costs companies nine times as much to attract new business as to keep existing ones and I am sure the same ratios apply to economic development.

Comments

Anonymous said…
Totally agree. Why doesn't the Assembly Gov. look more to support and develop those home grown businesses to expand. After all, these are the businesses that struggle on a daily basis to trade in Wales, not just come in for the grants available, then leave when they run out.
July 05, 2008 12:18 pm
Anonymous said…
Ventura is a recent example....Grants & Gone !
July 05, 2008 12:25 pm
bewildered said…
As a nation we need to wise up. We need to to put more effort and money into developing high value-added indigenous industry. Inward investment has a part to play but it is too often used as the easy option. The longevity and quality of many of the jobs created through inward investment is questionable... e.g. Amazon a glorified warehouse!! This didn't stop some serious back slapping in the assembly however.
We need to get the right mix, large numbers of jobs can be created in a relatively short time through inward investment projects.
However, there should be more done to develop and support high added value indigenous companies that have a long term commitment to Wales. We also need to attract the best minds into Science, Engineering and Technology. However,this requires a shift in the attitudes of employers and indeed society in general. Pay Engineers more and give them the status they deserve in society and you might have a chance of attracting the best minds to the profession. Our Scientisits and Engineers create and develop the technolgy, products, jobs and wealth that Wales and the UK in general desparately needs; yet British society sees fit to pay them less than many tradesmen.
July 08, 2008 2:28 pm
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