Recession leads to IFT job losses
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• Predictions that the truck market will reach an all-time low this year has prompted Iveco Ford to cut a further 100 jobs at its Langley production plant, reducing the workforce to 1,075.
These cuts are in addition to the 250 jobs lost earlier on in the year.
The company hopes that the latest voluntary redundancies will enable it to return to fulltime working after its summer shutdown in August. The workforce is currently on a three-day week — employees are being paid a 60% wage for the days when they are not working — but Iveco Ford is about to increase it to four days.
The company says: "The recession in the truck industry has lasted nearly 18 months and the prediction for 1991 is that the market will reach an all-time low.
"This action is designed to further reduce our structure to remain competitive on cost and ultimately eliminate short-time working."
Iveco Ford remains market leader with May truck sales of 575, ahead of Leyland Daf, but down from 822 in May 1990.