One of the 海角视频's leading engineering technology firms, Renishaw, has confirmed proposals to shed 200 roles in the 海角视频 in the face of challenging trading conditions.
It has now entered into consultation with staff over a compulsory redundancy programme, which could affect 6% of its current 海角视频 workforce.
The business has five sites in Gloucestershire, including its headquarters at Wotton-Under-Edge.
It also has a major factory at Miskin, near Cardiff, which was the former factory site of German automotive giant Bosch. It also has operations in Edinburgh, Exeter, Castle Donington and York.
The London Stock Exchange listed business manufacturers products used for applications as diverse as jet engine and wind turbine manufacture, through to dentistry and brain surgery.
In first quarter results for its current financial year, published in October, it said it was focused on improving productivity while undertaking further initiatives to reduce its cost base. Its profits for the quarter were down sharply from £32.6m to £4.3m.
Now, having taken account of its sales performance for the first six months and the outlook for trading for the remainder of its financial year, its board has decided that further cost reductions, beyond those already achieved, are required in "order to meet its business objectives."
Reinshaw is already in the process of closing its Stone factory in Staffordshire, with its business being relocated to its plants in Miskin and Gloucestershire.
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Its chief executive William Lee, said: " We appreciate that this news will be very disappointing and concerning for our 海角视频 colleagues.
“I would like to thank them for their continued support for the business during this challenging period."
He added: “We remain confident in the long-term prospects for Renishaw and committed to the company’s strategy of delivering growth through the development and introduction of innovative and patented products.”
Globally, Reinshaw employs 5,000 located in 36 countries.
In it last financial year, to the end of June, 2019, it posted sales of £574m, of which 94% were exported related.
Its biggest markets are in the US, China, Japan and Germany.
Renishaw has made a significant commitment to research and development, with historically between 13 and 18% of annual sales invested in R&D and engineering.
Its factory in Miskin employs 440.