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| Worries over 208 car plant jobs | |
| (20 minutes later) | |
| An automotive plant is calling for 208 voluntary redundancies, according to a union official. | |
| Linamar, which employs 358 people on the outskirts of Swansea, took over the site just five months ago. It has not yet commented on the claim. | |
| The sale of the former Visteon components plant was completed in July with hopes it would lead to expansion. | The sale of the former Visteon components plant was completed in July with hopes it would lead to expansion. |
| It comes as ministers hold a third economic summit on the impact of the global slowdown on Wales. | It comes as ministers hold a third economic summit on the impact of the global slowdown on Wales. |
| Canadian-based Linamar, which employs 11,000 people worldwide, said when it took over that it hoped the Visteon plant would mark a "springboard into Europe" for the company. | Canadian-based Linamar, which employs 11,000 people worldwide, said when it took over that it hoped the Visteon plant would mark a "springboard into Europe" for the company. |
| The firm announced plans to produce camshafts, fly wheels and connecting rods, with possible expansion into other engine components. | The firm announced plans to produce camshafts, fly wheels and connecting rods, with possible expansion into other engine components. |
| We need to know how much of this money is new investment and how much is simply already planned expenditure Jonathan Morgan AM, Conservative | We need to know how much of this money is new investment and how much is simply already planned expenditure Jonathan Morgan AM, Conservative |
| However, last month the group reported a huge drop in sales for the third-quarter of the year, blaming falling demand from car companies. | However, last month the group reported a huge drop in sales for the third-quarter of the year, blaming falling demand from car companies. |
| Rob Williams, a shop steward at the factory, told BBC Wales that the company had offered voluntary redundancy to 208 staff. | |
| He said he believed the firm wants to see the workforce reduced by 60% with some production work moved to Mexico. | |
| The company has not yet made any official statement and has been asked for comment. | The company has not yet made any official statement and has been asked for comment. |
| It is the latest big name in the Welsh manufacturing industry to feel the pinch. | It is the latest big name in the Welsh manufacturing industry to feel the pinch. |
| Over the last month hundreds of jobs losses have been threatened at the Hoover factory in Merthyr Tydfil, while 450 posts are at risk at the Novelis Europe aluminium plant near Newport. | Over the last month hundreds of jobs losses have been threatened at the Hoover factory in Merthyr Tydfil, while 450 posts are at risk at the Novelis Europe aluminium plant near Newport. |
| A further 263 people are without a job after being made redundant when the Maesteg cosmetic's firm Budelpack COSi went into administration. | A further 263 people are without a job after being made redundant when the Maesteg cosmetic's firm Budelpack COSi went into administration. |
| The service industry has not escaped - with the 118 118 call centre in Cardiff announcing this week that 300 jobs will go. | The service industry has not escaped - with the 118 118 call centre in Cardiff announcing this week that 300 jobs will go. |
| In the space of a few weeks, a total of 4,000 Welsh jobs have been put in jeopardy. | In the space of a few weeks, a total of 4,000 Welsh jobs have been put in jeopardy. |
| Spending | Spending |
| It has been the backdrop to Friday's meeting of assembly ministers and the Welsh Secretary Paul Murphy, as they hold a third 'economic summit' to review the state of the markets in Wales. | It has been the backdrop to Friday's meeting of assembly ministers and the Welsh Secretary Paul Murphy, as they hold a third 'economic summit' to review the state of the markets in Wales. |
| Since its first summit in October, the assembly government is highlighting £877m of commitments aimed at tackling the impact of the world's economic meltdown. | Since its first summit in October, the assembly government is highlighting £877m of commitments aimed at tackling the impact of the world's economic meltdown. |
| It includes investments of £350m for 19 projects which include affordable housing, rail and road links, school buildings and the health service. | It includes investments of £350m for 19 projects which include affordable housing, rail and road links, school buildings and the health service. |
| There is also £160m being pumped into Heads of the Valleys regeneration, the SA1 development in Swansea and research in Welsh universities. | There is also £160m being pumped into Heads of the Valleys regeneration, the SA1 development in Swansea and research in Welsh universities. |
| "This is a global economic slowdown from which no country in the world is immune," stressed First Minister Rhodri Morgan. | "This is a global economic slowdown from which no country in the world is immune," stressed First Minister Rhodri Morgan. |
| "Wales is inevitably adversely impacted by the unprecedented volatility in financial markets and in the real economy. | "Wales is inevitably adversely impacted by the unprecedented volatility in financial markets and in the real economy. |
| "This investment shows that we are taking swift, practical and collaborative action to support families, businesses and communities in coping with the downturn." | "This investment shows that we are taking swift, practical and collaborative action to support families, businesses and communities in coping with the downturn." |
| However, much of the spending announced since October has to be spread out over the next two financial years. | However, much of the spending announced since October has to be spread out over the next two financial years. |
| 'Consequence' | 'Consequence' |
| Conservative AM Jonathan Morgan has questioned whether the measures are enough. | Conservative AM Jonathan Morgan has questioned whether the measures are enough. |
| "While we welcome all the support government can give to help people and businesses through the economic downturn this sort of creative accountancy is scarcely credible," said the assembly member. | "While we welcome all the support government can give to help people and businesses through the economic downturn this sort of creative accountancy is scarcely credible," said the assembly member. |
| "We need to know how much of this money is new investment and how much is simply already planned expenditure. | "We need to know how much of this money is new investment and how much is simply already planned expenditure. |
| "Wales is suffering more than other parts of the United Kingdom during this downturn and as a consequence could take longer to recover from it." | "Wales is suffering more than other parts of the United Kingdom during this downturn and as a consequence could take longer to recover from it." |
| But the Deputy First Minister Ieuan Wyn Jones insisted: "We are doing all we can to focus energy and resources on helping Welsh families and Welsh businesses through this economic downturn. | But the Deputy First Minister Ieuan Wyn Jones insisted: "We are doing all we can to focus energy and resources on helping Welsh families and Welsh businesses through this economic downturn. |
| "Many Welsh families are facing an uncertain end to 2008. Our message is that this government is and will continue to do everything in its power to help Welsh communities weather this economic storm. | "Many Welsh families are facing an uncertain end to 2008. Our message is that this government is and will continue to do everything in its power to help Welsh communities weather this economic storm. |