Major fridge maker plans to end production at UK site
A top fridge manufacturer in Peterborough, UK, has announced proposals to shed more than 420 UK jobs.
Workers at the Indesit plant in were told that the company was set to cease production at the site. Bosses blamed the move on a fall in demand and increasing costs.
Carlos Ramos, UK manufacturing director for Indesit, said an £8 million investment in the plant had not turned around the company's fortunes.
He added: "Despite further efforts and the introduction of added efficiency measures to be more competitive, it is with regret that the company must announce its proposal to cease all production-related activities at the Peterborough site with effect from October 31 2008."
About 1,000 people employed at the site in administrative and servicing roles will not be affected by the proposals, the company said.
A spokeswoman said consultation would now begin with the unions over the potential loss of the 426 positions.
Image: Indesit closes the door on refrigerator manufacturing in Peterborough