Redundancies And Job Cuts As Two More Firms Hit Trouble

More bad news for the job market as the crunch now spreads from the financial sector. 600 employees have been made redundant at LSUK, a major car parts supplier. Focus DIY has also confirmed that 750 jobs will be cut from their operations.

The announcement from LSUK comes during the administrative period after the failed takeover last week. This firm based out of Sheffield has roughly 53 branches across the nation. It was purchased last week by Euro Car Parts, but it was passed on to Tenon Recovery for administration on Sunday.

Tom MacLellan, the joint administrator, stated that he is currently working with several interested groups that wish to buy LSUK. But for now, all employees have received redundancy notices as LSUK ceases business.

DIY Focus made their announcement after a cost analysis of their network. The company's Severnside distribution centre will also be closed as part of the cuts. Their official statement is that they must reduce overhead if they wish to stay competitive and that the move is to protect the company's future.

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