Plaxton cuts its workforce
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• Plaxton Coach & Bus has made 44 staff redundant and imposed a pay freeze on its remaining 750-strong workforce until July 1992 in a bid to ride out the recession.
Redundancies would have been "substantially higher" without the pay freeze, says the Scarborough-based manufacturer, which cut 70 jobs last summer.
The new round of cuts included 33 production jobs, but Plaxton insists that its investment in product development will be unaffected, despite losing £1.15m last year.
"Once market conditions improve the industry will need new and innovative products, so it is vital we forge ahead with such investment despite times being difficult," says Plaxton Coach & Bus managing director John Dye.
"With 1991 forecast as the worst on record for the coach and bus market, we don't foresee any dramatic uplift in the market for 1992.
"But we do believe 1993 will see the market moving up to the levels it needs to be for the industry to be successful in the nineties," predicts.