Car parts supplier axes jobs
The firm, which supplies car makers including Jaguar Land Rover and Ford, said it had cut 242 UK jobs so far – around 3% of its British workforce – and that it had also reduced working hours.
GKN also announced that its automotive business made a loss in both November and December, and that conditions in the global car industry had continued to decline since then.
As a result, a spokesman confirmed that it expected to axe more jobs imminently.
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