Engineering company Renishaw reveals bleak news for South West County…
Precision engineering firm Renishaw has announced that up to 320 jobs will go from its four plants in Gloucestershire as part of a 440 strong global lay-off.
There will definitely be 308 redundancies in the region and possibly a further 12 but the company said it does hope to reemploy some of this when its fortunes turn around.
Renishaw employs 1,500 people in Gloucestershire.
Sir David McMurty, Renishaw chief and chairman, said the move is a result of the beginning of 2009 forming “the worst chapter in Renishaw’s long and successful history.”
The company cited the struggling automotive sector to which it supplies as one of the contributing factors to its woes.
He added: “We now have to move forward and build on the positive strengths that remain within the business, from our excellent portfolio of products, including the exciting developments in the dental and medical sectors, our world recognised manufacturing capabilities and our global strength in customer support.”
Renishaw was today awarded its thirteenth Queen’s Award; this year in the Innovation category for its ultra-compact strain gauge spindle probe.