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Bodycote will have shed around 150 UK jobs during the restructuring when the programme is completed.

500 jobs axed at Bodycote

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Plus, we have the flagship Manchester Evening News Britain's largest circulating regional daily with up to 130,485 copies and the free morning newspaper, The Metro, published every weekday which delivers more than 200,000 readers in Greater Manchester.


The Macclesfield based firm axed 1,800 posts during the year to the end of June but is widening the scope of its cost cutting programme.

is to cut a further 500 jobs worldwide as it wrestles with the global downturn.

"While a number of market sectors now appear to be stabilising, there is, as yet, no sign of any meaningful improvement in demand levels."

Revenues from continuing operations fell from 282.8m to 227.9m. The interim dividend is held at 2.95p. Mr Harris said automotive and general industrial markets appeared to have stabilised in recent weeks, although sales from those sectors were down by between 35 and 50 per cent in the first half, depending on territory.

Shares gained 4.43 per cent, or 5.5p, to 129.5p after the update. Arbuthnot analyst Michael Blogg said the unchanged dividend indicated the company expects to come through the downturn in reasonable shape.'s Oliver Wynne James said the restructuring programme meant Bodycote looked well positioned to benefit from expected volume improvements.

Bodycote, whose activities include heat treating and coating parts for the aerospace, automotive, oil and gas sectors, posted pre tax losses of 53.1m for the six months to the end of June, compared with profits of 38.2m last year.

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However, the aerospace, oil and gas markets had begun to soften. He said the restructuring programme would Nike Black Jacket For Man

Chief executive Stephen Harris said the additional jobs would go mainly in north America, Brazil and Europe, with only around 20 redundancies in the UK. The new cuts will cost Bodycote 11.4m but will deliver 23m in annualised savings.

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Mr Harris said he was unsure when markets would improve. "Bodycote has been significantly impacted by the downturn in manufacturing activity in all parts of the world and the first half of 2009 saw further reductions in customer requirements," he said.

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deliver total annualised savings of 41m and the firm had been careful to ensure it remained in a position to react quickly and take advantage when the global economy improves.

Online our editorial websites welcome 2.4million unique users who experience 12.4million page views every month.

"Visibility continues to be limited due to the group's short order book and continuing uncertainty in market conditions.

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in the first instance to: The Editor, Macclesfield Express, Office 1c, 11 Market Place, Macclesfield, SK10 1EB.

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