Job losses expected due to company restructure

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Islanders have been warned to expect job losses at Gurit’s Isle of Wight factory after the company confirmed restructure plans for 2019.

The company’s Chief executive spoke out on Wednesday (December 19) saying the timing was unfortunate coming less than a week before Christmas.

Several departments will remain at St Cross Business Park in Newport but it’s expected  the automotive factory production would be shifting to Hungary.

Gurit announced its planned restructure this morning to comply with Swiss stock market regulations.

UPDATED:

After hearing the news on Wednesday, the Island’s MP, Bob Seely, said: “I am very concerned to hear the news of potential job losses, especially just before Christmas.

“I have spoken to Gurit’s Chief Executive today to find out more and to voice the Island’s concerns. I understand that the losses may occur in the automotive factory production.

“I have specifically asked him to make any redundancy packages more generous than the statutory minimum to help people leaving the firm.

“I also asked him about other work at Gurit’s Island. He has reassured me that they remain committed to other part of the business on the Island.

“Despite these losses, the jobs market on the Isle of Wight remains robust and high-quality vacancies, like those recently announced at MHI Vestas, continue to be created.”


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