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Seddon sorrow
Page 6
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• Seddon Atkinson plans to shed about 10% of its workforce — about 70 jobs. "Although we returned a profit in 1988, the first time in eight years, it was not at an acceptable level," says the company. "After materials, the biggest cost element is staff, so we had to draw the conclusion we must operate with less staff."
More motors
• Oxford Economic Forecasting predicts motor industry growth of more than 10% in 1991 and 1992 with a 20% exports boost.
Citroen cheer
• Citroen UK has announced record pre-tax profits of £15 million for 1988, up £12.6 million on 1987. Its sales rose to over 70,000 last year, giving a turnover of over £387 million, compared with 1987's 2239 million. Citroen's light van sales so far this year are equalling last year's figures; C25 sales are up 76%.