Threat to 40 jobs as slump hits firm
Saturday 7th March 2009, 9:46AM GMT.
Up to 40 jobs are at risk at one of Oswestry’s leading employers following the massive slump in new house building and home sales.
Richard Burbidge Ltd is looking to axe 40 posts in a cost-cutting strategy.
The company cut 80 jobs, mainly through voluntary redundancy and early retirement last August – but sales have been further hit by the poor state of the economy and the impact on the housing market, which drives sales of Richard Burbidge’s timber balustrade, mouldings and decking.
Chief executive Steve Underhill said: “This is very disappointing and regrettable. The housing market was one of the first parts of the economy to be hit by the recession and we took early action last year, which we hoped would be enough.
“Regrettably sales have been further hit as the economic downturn has spread. Our products go primarily into new-build housing or to people improving existing homes and both sectors have been badly hit, so we have to reduce costs again.
“This means a further 40 jobs are now at risk and we are calling for volunteers for redundancy or early retirement but we cannot rule out compulsory redundancies. We are consulting with the workforce to try and minimise the impact.”
As well as job cuts, the company is continuing with other cost reduction measures and will be consulting on further changes to pension plans.
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