22 June 2012
Aerospace firm announces 50 redundancies
Expert employment law advice may be required by a group of professionals in the aerospace industry after it was confirmed they are facing redundancy.
Kembrey Wiring Systems has revealed it has entered into a company voluntary agreement in order to repay the debt it owes its creditors and avoid going into administration, This is Wiltshire reports.
This process will involve the Swindon-based firm implementing a number of job losses and, in a statement, it noted that following a period of consultation, these will now take place next Friday (June 29th).
"15 voluntary redundancies and 35 compulsory redundancies from a total of 130 staff have been announced," the firm said.
Kembrey attributed these cuts to the fact its business has been adversely affected by the global economic downturn, as governments have reacted to this by reducing their spending on military goods.
"The management of Kembrey have not been able to obtain the volume of work to replace these terminated programs," the statement added.
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Posted by Trusha Vyas