JCB to lose 150 staff amid 'uncertainty' over world markets

Construction equipment manufacturer JCB has announced it is to cut 150 jobs across its UK operation.

Chief executive Graeme Macdonald said the firm had to cut its cost base due to a "severe decline" in world markets.

He said the company's Staffordshire base would bear the main impact of the cuts, but its other sites in north Wales and Derbyshire could be affected.

Mr Macdonald, who said only office-based staff would be affected, said a 45-day consultation would now commence.

He said he hoped most of the cuts would come from voluntary redundancies or early retirement.