Doosan Babcock To Close Renfrew Site
6 December 2016, 17:26 | Updated: 6 December 2016, 17:30
Engineering group Doosan Babcock is to cut almost 500 jobs across its UK sites.
The company said the majority of the positions affected are in management, back-office support services and at the machining and assembly facility in Renfrew, which is to close.
A total of 470 jobs are at risk and a consultation has started with affected staff.
Doosan, which provides services to the energy, pharmaceutical and petrochemical sectors, said it foresees a "long-term downturn in certain market sectors which mean the current position is unsustainable''.
Other Doosan UK sites are in Newcastle, Cumbria, Yorkshire, the West Midlands, Bristol and Crawley.
Chief executive Andrew Hunt said: "Over the last year we have worked hard to rebalance the business, adapting to changing market dynamics and reacting to industry requirements for a low-carbon future.
"Unfortunately, we foresee long-term downturn in certain market sectors which mean the current position is unsustainable.
"It is with much regret that we now have to enter into the statutory consultation period on redundancies.
"This is particularly difficult for a company which places great importance on staff development and we will do our utmost to support our colleagues during this period of change.
"The continued long-term growth of the business across the UK and in strategic international markets remains a priority.
"We have made significant progress in transforming and future-proofing the business but this will only prove successful if we also reduce our cost base in parallel.
"Until the consultation period has concluded it would be inappropriate to provide further comment.''