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400 more jobs to go
Page 18
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• National Welsh plans to axe at least 300 jobs before the end of the year, amid speculation of an imminent takeover.
By the end of October about 40 jobs will be lost when Pontypridd, one of its 14 depots, closes. A number of routes are likely to go, but the firm will not disclose how many.
About 80% of the Cardiffbased operator's 1,600-strong workforce are drivers, so they are most likely to be worst hit by the cuts.
These redundancies follow the loss of 18 administrative jobs last month when the marketing department was closed. However, National Welsh says that it has been trading profitably for most of the summer and the investment group 3i Corporate Finance, which acts as an adviser to the company, says that a sale should only be seen as one of a number of options. El Meanwhile, staff at Kelvin Central have voted to accept up to 100 job cuts and a substantial drop in earnings, as part of a package designed to give its management/employee buyout a chance.
If the buyout bid is successful, wage cuts will be introduced ranging from 4% for the lowest paid staff up to 10% for higher earners. Around 100 out of a total 1,500 jobs will be lost, but most of the redundancies will be at head office. The company expects to hear if its bid has been successful by early November.