400 jobs to go at JCB

JCB, one of the largest construction equipment manufacturers in the world, is to axe almost 400 jobs.

The company said the job losses consist of 297 shop floor jobs and 101 staff posts. The cuts are as a result of ‘extreme deterioration in business levels and confidence around the world‘, said JCB.

Matthew Taylor, the company’s chief executive said since the turmoil in the markets in September, the amount of business we are doing out in the markets globally has fallen significantly.

Last month, the company which is based in Rocester, Staffordshire, said it needed to cut its UK shop floor workforce by 510, however the figure was reduced to less than 200.

Fewer job losses were agreed after GMB union members voted to accept a £50-a-week pay cut in a bid to prevent job losses.

JCB has 17 factories in the UK, Brazil, China, Germany, India and North America. It has a workforce of around 8,000. It makes over 300 types of machines for construction, industry and agriculture.

In related news, Leyland, the truck-maker, announced 250 job losses are to go at its factory in Lancashire.

Furthermore, Virgin Media announced it is to cut 2,200 jobs from its 14,600 workforce.

Housebuilder Taylor Wimpey, said it has shed 1,000 employees as a result of the slowdown in the housing market and the fall in demand for new homes.

In addition, the world’s second largest drugs maker, GlaxoSmithKline, said it is to shut its manufacturing site in Dartford with the loss of over 500 jobs.

Meanwhile, the British handheld computer maker, Psion, has announced 200 job losses.

Vodafone, the world’s largest mobile phone company, has announced a cost-cutting exercise, which has led to job fears.

Finally, today telecoms giant BT announced it is to slash 10,000 jobs by the end of March 2009, which represents 6% of its global workforce.

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