Renishaw asks staff to consider voluntary redundancy

Global engineering firm, Renishaw, has announced a voluntary redundancy scheme for its UK and Ireland employees in an attempt to make £20m in cuts.

Renishaw, which is based in Wotton-under-Edge in Gloucestershire, currently employs more than 3,000 people in the UK

They introduced their voluntary reduction scheme last Thursday as part of their global cost reduction programme.

The world-leading supplier, founded in 1973, specialises in high-precision measuring systems used by companies that manufacture aircraft and medical equipment.

A statement from Renishaw stated: 'In recent years, Renishaw has faced challenging market conditions. Whilst we have achieved some growth, we have also faced significant inflationary pressures in our costs which have grown faster than our revenues."

A spokesperson for the company said they had already taken action to boost productivity and reduce costs including closing their Edinburgh site and reducing graduate intake.

The firm said it believed the move was necessary to further reduce costs and make annual savings of up to £20m.

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