There was bad news for the UK glass industry today as the owner of the glass manufacturer Pilkington, Nippon Sheet Glass (NSG), stated the need to close one of their UK production lines to cut costs.
The decision comes as part of a world wide NSG plan, to reduce the number of staff across the globe by 3,500, 3,000 of which would be cut in the UK. The company currently makes 40% of its sales in Europe, but the falling demand for building and automotive glass has meant that the company is now facing losses of 3bn yen for the year to March; a stark turn around from expected profits of 14bn yen.
The job cuts come as part of a second major reduction, with 6,700 jobs already cut back in March 2010. The company hopes that this second reduction will go as smoothly as the first, avoiding potentially damaging employment law issues.
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
Setfords Solicitors have locations throughout the country, for a full list of locations please contact us, or visit our area pages, such as our Solicitors in Manchester, or Reading Solicitors.
