We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedPeople Management

Honda to cut 800 UK jobs


Cuts to be initiated at Japanese carmaker’s Swindon plant

Article comments

Japanese carmaker Honda is to cut 800 jobs at its Swindon plant, it was announced on Friday.

The carmaker said “weakening demand across Europe” was the primary reason behind the stated cuts. The announcement marks the first instance of Honda having reduced its workforce since it began making cars in the UK in 1992.

In a statement, the company said, "Sustained conditions of low demand in European markets make it necessary to realign Honda's business structure."

A spokesperson told CFOWorld that a 90-day consultation period had begun and that the Japanese carmaker hopes to avoid compulsory redundancies. Honda’s Swindon plant produces its Civic, Jazz and CR-V models and currently employs 3,500 people.

However, the spokesperson reiterated Honda’s commitment to UK manufacturing. According to published data, the company built 97,000 cars in 2011 and 166,000 cars in 2012 at the Swindon plant versus a possible plant capacity of 250,000.

Earlier this week, figures published by the Society of Motor Manufacturers and Traders (SMMT) indicated that UK new car registrations rose 5.3 percent in 2012 to 2,044,609 cars; the highest figure since 2008.

SMMT told CFOWorld that of these 54,208 Hondas were registered in the UK last year; an increase of 7.2 percent from 2011.

Share:

Recommended Articles

Comments

Honda to cut 800 UK jobs
People Management

Is the CFO still the sole sacrificial lamb when a company struggles?

Is the CFO still the sole sacrificial lamb when a company struggles?

Tesco's announcement today that boss Philip Clarke is to leave proves that's no longer the casemore ..


Engineer Babcock International promotes group FD

Its financial controller of 12 years will step up to be the new group FD as Bill Tame becomes CEO of the international divisionmore ..

Tesco ex-FD appointed Morrison’s next chairman

Andrew Higginson served as finance director at Tesco for 15 yearsmore ..

ITV appoints new non-executive as it enters next phase of transformation

Mary Harris joins the board raising the total number of women on the board to threemore ..

Ten tactics to unleash the potential of Generation Y in finance

Most CFOs are Baby Boomers or Generation X-ers – the difference in mindset is hugemore ..

What's the role of the finance chief in a takeover bid?

With Pfizer's possible takeover of Astrazeneca in the spotlight we take a look at how pivotal the CFO is in such a dealmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *