More than 150 engineering jobs are to go in Wolverhampton as a result of the worldwide recession in certain markets.
Chart Marston, which makes heat exchangers and cold-box assemblies for the oil, gas and petrochemical industries, will lay off three quarters of its workforce, taking it from 186 to 52.
Director of manufacturing Nigel Ormerod said: `The worldwide recession in the natural gas and petrochemical plant building markets in which we operate is deeper than originally anticipated.’
And specialist security firm Chubb is cutting 10% of the 350 staff at its Wolverhampton plant to boost competitiveness. Workers affected are in the safe and fire-resistant equipment division.
Operations director Clive Parkman said: `It is necessary for economic reasons to undertake these redundancies. We hope it will help secure the company’s future.’
Chubb was forced to make substantial job cuts two years ago after its takeover by the Williams Group.