Job losses announced at JCB, Findus, Waterford Wedgwood, Waterstone’s and Wincanton

JCB, one of the largest construction equipment manufacturers in the world, is to axe a further 684 jobs at its UK factories, on top of the 1,000 job losses made last year.

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

The latest job losses are as a result of a shortage of credit which has meant its customers have been unable to afford new diggers and other such equipment.

Matthew Taylor, JCB’s chief executive, said indications are that business will not improve in the short-term. Total business is down 75% compared with the same period last year, said the company.

The bad news continues after frozen food maker Findus has called in the administrators. According to Zolfo Cooper, administrator, the failure of the business is primarily due to years of sustained trading losses.

In the meantime, Deloitte, the administrators for Waterford Wedgwood, have confirmed that 367 employees have lost their jobs. The company was placed into administration last week.

It is understood that the administrators are in talks with US private equity firm KPS Capital Partners to buy most of the firm.

Waterstone’s, the book retailer, is undertaking a cost-cutting review and has confirmed the loss of 200 jobs. The chain has a workforce of 4,500 across 300 branches in the UK.

In addition, distribution company Wincanton has announced that it is looking to close two of its depots in Gloucester and Trafford Park, Manchester, with almost 900 jobs at risk.

Furniture retailer Land of Leather is currently reviewing its finances and has requested that the stock exchange suspend its shares today and has lined up an administrator. The company has a workforce of 850 people.

Finally, on a positive note, Britain’s fourth-largest supermarket Morrisons, is bucking the trend by pledging to create 5,000 jobs this year.

Personnel director, Norman Pickavance, said new positions will be created across its chain of stores.

Story link: Job losses announced at JCB, Findus, Waterford Wedgwood, Waterstone’s and Wincanton