An electrical parts supplier has said jobs at its city base are safe, despite plans to cut almost 500 workers after announcing a five per cent year-on-year drop in sales.
Electrocomponents Plc, which has a head office in Oxford Business Park, Cowley, said it had taken action to reduce its costs by £18m over the next year — including cutting 470 jobs around the world.
The figure represents eight per cent of the firm’s workforce. But a spokesman said none of the jobs will be lost at the firm’s Oxford office, which currently has about 80 staff.
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