Britain's biggest train factory to lay off hundreds of staff [Yahoo! Finance]
ALSTOM UNSP/ADR (ALSMY)
NASDAQ:AMEX Investor Relations:
alstom.com/investor-relations
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Source: Yahoo! Finance
Managers at the Alstom plant in Derby have restarted a voluntary redundancy process that was paused in January amid optimism about new government contracts. Talks with the Department for Transport (DtF) have since stalled, and Alstom is now expecting to announce cuts among its 3,000-strong workforce. Onsite workers employed by suppliers are likely to lose their jobs, while the bulk of Alstom's 1,200 blue-collar staff at Derby will run out of work once the testing and evaluation of completed trains ends in four or five months. Birmingham-based Solo Rail Solutions, which makes train interiors, seats and doors, went into administration last month and counts the Derby plant as one of its main customers. Alstom has not yet raised the prospect of closing the Litchurch Lane site, which supports a further 15,000 jobs in the supply chain. However, this step is viewed as inevitable without new business to bridge a gap of more than two years until work begins on trains for HS2. Train c
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