74 jobs are to go.Dozens of jobs will be lost when an electronics giant shuts its North East factory. A global slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. has hit Cookson Fukuda and 74 jobs will be lost at the plant at Shiremoor, North Tyneside North Tyneside is a metropolitan borough of Tyne and Wear in the North East of England. Its seat is at the Town Hall, Wallsend. Created in 1974, the borough lies within the historic county boundaries of Northumberland. . It is the latest in a series of manufacturers in the region to fold in the face of low-cost Far East competition. The company blames competition from China and Andrew Coulson, company secretary and general manager of Cookson Fukuda, said: "The steep deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. in prices for our products, in an increasingly competitive world market, has had a profound impact on the Shiremoor site." Cookson, which makes copper foil for printed circuit boards, axed 3,500 jobs worldwide in 2002 in the face of tough economic conditions. |
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