CBM urge government to extend furlough and save jobs

Extending the furlough scheme and giving companies more flexibility could save thousands of manufacturing jobs, according to a survey carried out by the Confederation of British Metalforming.

CBM - which represents manufacturers of fasteners, forgings, pressings, cold-rolled and sheet metal products - found that its members were predicting to cut up to 30 per cent of jobs if assistance was taken away at the end of June, resulting in 12,000 job losses.

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In a statement, Steve Morley, president of the CBM, said: "Whilst there was some optimism in manufacturing prior to COVID-19, the sector had suffered from lack of investment throughout the insecurity caused by Brexit. So, whilst our members are all hoping for an immediate bounce back in the economy, the reality is that volumes will increase at a much slower rate and industry will need help to protect workers in the meantime.