GMB union regrets JCB job cuts

The firm has blamed a "significant" reduction in incoming orders

The GMB union has said it regrets the loss of 400 jobs at JCB.

The Staffordshire-based firm announced on Thursday that 297 shop floor jobs and 101 staff posts were to go.

The firm originally proposed 510 job losses but fewer were agreed after union members voted in favour of a shorter and lower-paid working week.

Works convenor Gordon Richardson said he recognised the news came as a major blow to members after the working week was reduced.

"Unfortunately, more of our members will lose their jobs than was originally expected but we can all rest assured that the selfless commitment shown in voting for the shorter working week has, without doubt, saved jobs," he said.

Confidence low

JCB chief executive Matthew Taylor said there had been a significant deterioration in business levels over the year and particularly during the last two months.

He said it was not just a UK issue, markets all around the world were affected.

He did not think any more jobs would go, he added.

"We've cut as hard as we think we can and as we think we need to," he said.

Confidence in the market was at such a low point he did not think it could get any lower, he said.

Bill Cash, Conservative MP for Stone, said he felt the company would bounce back once the current financial difficulties had passed.

"I am entirely confident that in fact, when we've got past this terrible time, that they will come back and be one of the greatest companies Britain has had in recent years."