A decline in global construction could lead to a number of job losses at machine plant giant firm JCB…
Formal talks are underway between staff and trade unions as machine plant supplier JCB said it could be looking at cutting around 400 jobs.
The firm said a slump in global construction had resulted in declining demand for products. It comes around a year after 150 redundancies were made.
JCB Chief Executive Graeme Macdonald said: “Market conditions in the construction equipment sector have been difficult for some time, but they have worsened quite rapidly in recent weeks.
“The situation is not about to improve, certainly not in the short term, so we now need to take difficult but decisive actions to align overheads to lower sales forecasts
“Regrettably, this will result in up to 400 staff positions becoming redundant across our UK businesses.”
A spokesperson for JCB said: “Event the strong growth in the UK and North America has softened due to a fall in market confidence over the summer, which has been prompted to an extent by low oil and commodity prices in countries which depend on these resources to drive economic growth.”
Redundancies would impact JCB’s UK operations. The firm currently employs around 4,000 people at its Staffordshire factories in Rocester and Cheadle.