4 June 1998: According to a recent press report, the North Wales, UK glass fibre unit of US-based Owens Corning has suffered a second jobs blow. Owens Corning is expected to shed more workers at its …
4 June 1998: According to a recent press report, the North Wales, UK glass fibre unit of US-based Owens Corning has suffered a second jobs blow. Owens Corning is expected to shed more workers at its factory on Wrexham industrial estate just three months after making 72 redundant. Another 45 jobs are being cut, as the company struggles against tough competition and the strength of the pound which is making it difficult for exporters throughout the UK, the report said. It is the latest piece of bad news for Wrexham which has this year already lost jobs with the run-down of a BICC cables factory. “It demonstrates quite clearly that the high pound is hitting manufacturing industry – especially manufacturing industry exporting to the European Union,” Wrexham MP John Marek said. “The Government has got to act to lower interest rates otherwise a full blown recession is on the way.” “Owens Corning is not the only firm suffering in Wrexham. There has been a spate of cutbacks and belt tightenings in the last six to nine months and it must be obvious to the Labour Government that things cannot go on as they are,” Marek added. The high pound and the continuing competitive market are said to be the reasons behind the latest cutback. Owens Corning reportedly said its only course of action to protect its business is to continue to cut costs. Transport and General Workers Union officials, who held talks with management recently, said the fresh round of redundancies had come as a complete shock.