Automotive
Products, the Leamington-based car components company, today announced it is cutting 120
shopfloor jobs.
The company is the latest victim of the recession biting hard into the West Midlands
car industry.
AP, which supplies clutches, flywheels and brake components to car manufacturers, said
that it had been forced to reduce its hourly paid workforce by 10 per cent because of a
slump in UK orders. One of its main customers is Rover which recently announced a complete
shutdown in December because of falling exports caused by the high value of the pound.
AP wants the jobs to go through a voluntary redundancy programme.
AP chief executive Adrian Buckmaster said today:
"As a result of the high pound, orders have fallen from vehicle manufacturers in
the UK and also for the sale of spare parts overseas, particularly to countries recently
hit by economic problems. We are therefore forced to reduce our capacity in line with the
new lower demand.
"Elsewhere, our companies in Italy, France and the USA continue to develop
strongly."
