March 11, 2009

Renishaw announces 500 job cuts

Measuring equipment maker Renishaw has announced it is cutting 500 jobs, with the majority of the losses set to go in the UK.

The group has experienced an “unprecedented” slowdown in demand for its products in recent months, forcing it to take action to cut costs.

Renishaw, which employs 2,240 people around the world, said most of its 1,500-strong UK workforce is based at four Gloucestershire sites.

Source: Press Association

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