Wearside employer Gentoo has announced today that 330 jobs are being axed.
The company gathered staff together this morning to break the news that they are shedding 18% of the workforce.
Gentoo announced in August that cuts needed to be made and this morning confirmed that it will need to reduce its controllable costs by £18.25million and are forecasting to
achieve this by March 2018.
To achieve these savings the group has proposed it will need to make the 330 redundancies.
All staff were briefed personally by Gentoo’s Acting Chief Executive John Craggs.
The Group has explained that it will be looking for voluntary redundancies and staff seeking early retirement to come forward in the first instance.
They claim staff have been reassured that there will be no compulsory redundancies taking effect before 1 April 2016.
Gentoo says it will be offering a comprehensive suite of advice and support to help staff throughout this process.
Mr Craggs said: “It is never easy to make announcements like this, especially when you have such a passionate and dedicated workforce like we have here at Gentoo.
“The unfortunate reality is that our sector is facing a huge period of change and a range of financial pressures and we have to act now to ensure the group remains fit for the future.
“We pride ourselves on being a responsible business and this starts with treating our people well and fairly. This is a very difficult time, however we will work with staff
and our union colleagues to mitigate the impact of this as much as possible and keep compulsory redundancies to a minimum.
“An overview and timeline was outlined to all staff today and they will continue to be fully informed at every stage. We have also set up a dedicated internal team to support staff.
“Continuing to deliver a quality service for our customers remains our priority.”