FORD cut 850 UK jobs - mostly in Southampton

It has just been announced that Ford is to cut 850 jobs in the UK by May.
The company currently employ over 1200 people in the country and most of the jobs will be lost in Southampton.

The remaining workforce is expected to be asked to take a pay cut to avoid further redundancies.

Transit van sales have been particularly affected by the worlwide downturn.

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The 2008/2009 recession is seeing private consumption fall for the first time in nearly 20 years. This indicates the depth and severity of the current recession. With consumer confidence so low, recovery will take a long time. Consumers in the U.K. have been hard hit by the current recession, with the value of their houses dropping and their pension savings decimated on the stock market. Not only have consumers watched their wealth being eroded – they are now fearing for their jobs as unemployment rises as you said.