Daewoo has axed another 187 jobs at its technical centre in Worthing on Britain’s south coast.
Daewoo UK said the Worthing Technical Centre had received a directive from the Korean court receivers of parent company Daewoo Motor to reduce salary costs by approximately 50%.
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Staff, who will be offered redundancy packages, were told the news at a meeting on Monday.
The job cuts at Worthing, West Sussex, will take immediate effect, reducing the workforce by 40% to leave just 250 employees. Before the parent company in Korea went bankrupt, the technical centre employed 750.
“As part of Daewoo Motor’s undertaking to reduce overheads across its global operations, it is forced to issue redundancy notices to 187 staff in order to maintain ongoing operations at the centre while waiting for a sale to be concluded,” said managing director Jim Mason.
“We are disappointed that we are forced to say goodbye to so many loyal and committed members of our team.”
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By GlobalData“Despite the best efforts of the management team, we are still some way from securing the sale of the centre and sadly, economic forces have prevailed.”
Mason said the latest cuts will enable the centre to function as a complete design-to-production facility but with only a critical staffing level.
Sales and servicing of Daewoo vehicles in the UK are unaffected.
