Jewellery firm makes job losses

The company has blamed a decline in the UK jewellery market

A precious metals firm is to close its Wrexham factory and cut jobs at its plant in Birmingham, affecting 86 jobs.

Cookson Precious Metals (CPM) will switch the manufacture of jewellery chains and clasps from Wrexham to Thailand, with the loss of 16 jobs.

CPM is also cutting more than 70 jobs in Birmingham's jewellery quarter as part of restructuring.

The company has blamed a drop in demand in the UK jewellery market, combined with competition from cheaper imports.

Stella Dorsett, CPM's European president, said: "We very much regret the impact that these necessary initiatives will have on our employees.

Call centre

"However, the pressure facing manufacturers in the UK are well known, and we have no option but to restructure if we are to operate profitably and provide consistently high levels of service to our jewellery customers."

CPM's UK business concentrates on the supply of raw materials such as gold, silver and platinum, and the production of jewellery components.

It has said it will continue to employ around 200 people in the UK, mostly at its manufacturing and call centre facilities in Birmingham.