Staff at JCB have voted to take a £50-a-week pay cut in order to prevent 350 colleagues losing their jobs amidst the financial turmoil.
Around 2,500 production staff based at seven different factories have agreed to work a four day week. The 34-hour week will commence on November 3 and will run for a minimum of six months.
The manufacturer had planned to axe 500 jobs, but now will only make 150 redundant following a ballot of GMB union members, where two thirds of members voted in favour of a an hours cut, to save jobs.
Matthew Taylor, chief executive officer at JCB, applauded the team spirit amongst employees. He said: “The ballot result shows the tremendous unity amongst the JCB workforce and a great team spirit, which I applaud. They have looked after the needs of one another rather than the needs of the individual and that is to be commended.
“From a JCB perspective this is very positive because it means we retain the skills of a wider workforce who have contributed to the success this company has enjoyed over many years. It means we retain the fundamental strength of our workforce and this is very welcome news as it puts us in a very strong position to take advantage quickly of the upturn in the market when it comes.”