JCB to axe 400 jobs as global slowdown leaves it in a hole

 
Ravender Sembhy
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JCB announced yesterday that a slump in its key markets could lead to job cuts
CONSTRUCTION giant JCB yesterday said that 400 jobs at the firm are at risk due to a dramatic slowdown in global demand.

The firm said that the construction equipment market has slumped in key markets such as Russia, Brazil, China and India.

Chief executive Graeme Macdonald said: “The situation is not about to improve.”

JCB employs 6,500 in the UK across 11 factories and has begun talks with unions over the potential job losses. The GMB warned the move represents the “first ripple” from the downturn in world markets including China impacting the UK.