Short-time working and other cutbacks are to be introduced at manufacturing company Oglesby & Butler in response to the economic downturn. Staff at the company, which makes soldering irons and heat tools, were informed yesterday of the cutbacks, which management says it hopes will be of "short duration".
The firm employs 80 to 100 people at the plant, established in 1983 by three former employees of the Braun electrical appliances factory. In its most recent annual accounts, published in September, it announced a £500,000 increase in sales to £4.7 million to the year ended March 31st, 2001. Pre-tax profits dropped slightly to £511,000.
Chairman Mr Nevin Dowling warned the firm's cost base had been affected by increased staff and material costs. But it continued to trade in line with expectations and was in a strong competitive position, he said.
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