According to the Press Association:
"More than 500 jobs are being axed at digger giant JCB as the firm announced steps to cut costs after a "rapid decline" in business. The Staffordshire-based firm said the positions were expected to go across its manufacturing workforce. All of JCB's UK factories will be affected by the job losses, hitting staff at eight factories in Staffordshire, two in Wrexham and one in Derbyshire. The 500 manufacturing job cuts account for 8% of JCB's UK total employee base, but it added that a number of office-based staff positions are also facing the axe. It said details of the further redundancies were still being hammered out. JCB revealed that orders had plummeted, leaving its forecast production schedule for the rest of the year down by 20%. The privately-owned firm warned last month that sales growth was under pressure as the credit crunch slowed construction demand this year."
I just hope that Welsh Assembly officials are already in talks to safeguard jobs in Wrexham and ensure the company that Wales, despite the credit crunch, remains open for business.
UPDATE: 50 jobs are to go at the Wrexham sites. Ballantyne Homes in South Wales have also gone into administration, costing a number of other jobs in the construction sector and adding to the 200 jobs to be lost by Persimmon Homes in South Wales.
"More than 500 jobs are being axed at digger giant JCB as the firm announced steps to cut costs after a "rapid decline" in business. The Staffordshire-based firm said the positions were expected to go across its manufacturing workforce. All of JCB's UK factories will be affected by the job losses, hitting staff at eight factories in Staffordshire, two in Wrexham and one in Derbyshire. The 500 manufacturing job cuts account for 8% of JCB's UK total employee base, but it added that a number of office-based staff positions are also facing the axe. It said details of the further redundancies were still being hammered out. JCB revealed that orders had plummeted, leaving its forecast production schedule for the rest of the year down by 20%. The privately-owned firm warned last month that sales growth was under pressure as the credit crunch slowed construction demand this year."
I just hope that Welsh Assembly officials are already in talks to safeguard jobs in Wrexham and ensure the company that Wales, despite the credit crunch, remains open for business.
UPDATE: 50 jobs are to go at the Wrexham sites. Ballantyne Homes in South Wales have also gone into administration, costing a number of other jobs in the construction sector and adding to the 200 jobs to be lost by Persimmon Homes in South Wales.
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