Aston Martin axes jobs

7:17pm Monday 1st December 2008

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Another 1,350 jobs have been cut or threatened with the axe as luxury car firm Aston Martin, aleading bank, and a car accessory retailer shed labour in response to the economic downturn.

Union officials expressed anger and dismay that Aston Martin, HSBC and Halfords were announcing job cuts so close to Christmas.

Aston Martin said it was planning to axe up to 600 full-time and temporary jobs because of the downturn in the world economy, hitting the company's factory at Gaydon.

The announcement, following a dip in sales, was described by the Unite union as "devastating news" for workers.

HSBC said it will reduce its UK workforce by around 500 following a review of the business and "current economic conditions."

Managing director Paul Thurston said: "We deeply regret taking this step, but we consider it essential to ensure our business is operating as efficiently as possible and that we are best placed to deal with the economic downturn and maintain our levels of customer service."

Unite's joint leader Derek Simpson said: "Unite is appalled that this news has been delivered so close to Christmas. As far as we can see, HSBC is simply using the economic downturn as an excuse to make job losses."

Car accessory retailer Halfords has announced plans to shed about 250 jobs due to the impact of the economic downturn.

The specialist chain said approximately 200 posts would be cut across its network of more than 450 stores, along with 50 more at its head office in Redditch, Worcestershire.

A company spokeswoman said: "The current economic downturn is heavily impacting upon the British retail market and in order to create a platform for growth in this tough trading environment, we must review those activities within the business that can be carried out more effectively."