John Smedley

Type
Internal restructuring
Country
United Kingdom
Region
East Midlands (England); Derbyshire and Nottinghamshire;
Location of affected unit(s)
Sector
Manufacturing
(13 - 15) Manufacture of textiles, apparel and leather
13.9 - Manufacture of other textiles
13.91 - Manufacture of knitted and crocheted fabrics
60 jobs
Number of planned job losses
Job loss
Announcement Date
16 June 2011
Employment effect (start)
Foreseen end date

Description

John Smedley, a Derbyshire knitwear firm is planning to shed 60 jobs due to tough trading conditions in the UK and abroad. The firm exports 70% of its products to 28 countries and said that its exports had been hit by the slump in the global economy. In particular, its performance in Japan had been hit by the economic impact of the tsunami and earthquake. Japan accounts for 10% of John Smedley's exports. A 30-day consultation is now under way.

The company hopes that most of the cuts will be implemented through voluntary redundancies.

Sources

  • 21 June 2011: This Is Business - East Midlands

Citation

Eurofound (2011), John Smedley, Internal restructuring in United Kingdom, factsheet number 72096, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72096.