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JCB plans to shed further jobs

A slow down in global demand for its machines has caused construction plan manufacturer JCB to announce a possible further round of redundancies.
The latest set are likely to be amongst shop floor workers based at factories in Staffordshire and Wrexham, though not the diesel engine factory in Derby is unaffected.

It comes just a few months after an announcement that over 400 UK jobs were at risk.

JCB CEO Graeme Macdonald said: “Manufacturers in the construction equipment industry are currently facing very tough trading conditions and we have to react to the current market reality to protect the long-term future of the business.

“As the global economy shows no sign of improving, the short-term outlook remains very challenging.”

In the first six months of the year, the market in Russia has dropped by 70%, Brazil by 36% and China by 47%. France is down by 26%.

Even 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.

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

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