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30/01/2009
Honda Shuts UK Factory For Four Months
Japanese carmaker Honda is to close its UK base for four months this evening, due to a slump in sales.
Production at the motor plant in Swindon, Wiltshire, is to cease until June 1.
Over 3,000 of the 4,000 employees will be affected by the closure. It is understood they will receive their full basic pay for two months, but around 60% of their wages for the following months of production shutdown.
Honda has stressed its commitment to retaining its Swindon workforce until the autumn when the Jazz model is due to go into production.
The closure at the Swindon base is thought to be one of the longest in Britain's recent industrial history.
Meanwhile, Honda has today announced its net profit for the three months to December dropped by a dramatic 89%.
The company now expects profit for the year to March 2009 to be 80bn yen (£627m), less than half its earlier forecast of 185bn yen.
A number of car manufacturers have also cut production, and axed a number of jobs due to the huge clump in sales due to the recession.
Bentley, Vauxhall and Jaguar Land Rover have all stopped production or cut the working week as demand for their cars fall.
(JM/BMcC)
Production at the motor plant in Swindon, Wiltshire, is to cease until June 1.
Over 3,000 of the 4,000 employees will be affected by the closure. It is understood they will receive their full basic pay for two months, but around 60% of their wages for the following months of production shutdown.
Honda has stressed its commitment to retaining its Swindon workforce until the autumn when the Jazz model is due to go into production.
The closure at the Swindon base is thought to be one of the longest in Britain's recent industrial history.
Meanwhile, Honda has today announced its net profit for the three months to December dropped by a dramatic 89%.
The company now expects profit for the year to March 2009 to be 80bn yen (£627m), less than half its earlier forecast of 185bn yen.
A number of car manufacturers have also cut production, and axed a number of jobs due to the huge clump in sales due to the recession.
Bentley, Vauxhall and Jaguar Land Rover have all stopped production or cut the working week as demand for their cars fall.
(JM/BMcC)
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