Downturn claims 2,000 more jobs

Last Modified: 01 Dec 2008
Source: ITN

Four high-profile firms have announced up to 2,000 redundancies just weeks before Christmas.

Investment bank Credit Suisse is to cut around 650 UK jobs - about 10 per cent of the company's UK workforce.

The news came after banking giant HSBC said it planned to reduce its UK workforce by around 500 following a review of the business and "current economic conditions".

Luxury car marque Aston Martin is also cutting 600 jobs because of the downturn in the world economy, with job losses hitting the company's factory at Gaydon in Warwickshire following a fall in sales.

Car accessory retailer Halfords have announced plans to shed around 250, with about 200 posts cut across its network of more than 450 stores and 50 more at its head office in Redditch, Worcestershire.

The Unite union's joint leader Derek Simpson said: "Unite is appalled that this news has been delivered so close to Christmas.

"The union has seen no business rationale for these job losses. As far as we can see, HSBC is simply using the economic downturn as an excuse to make job losses."

The union's national officer Dave Osborne said: "In the current climate, this is not surprising but we are extremely disappointed that Aston Martin have announced 600 job cuts.

"This is devastating news for our members who have made major contributions to the Aston Martin brand. They now face a bleak Christmas."

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