South Yorkshire wire manufacturer to make redundancies

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Around 20 jobs are to go at a South Yorkshire manufacturing firm which came out of administration earlier this year.

Penistone Wire, based in Talbot Road, Penistone, has announced a programme of redundancies which the company says will protect the jobs of other employees.

The company, which was founded in 1959 and makes wire products, said the job cuts were being made to ‘stabilise the business’.

A former worker at the company said staff were told last month around 20 jobs would be going, but the company has not confirmed the precise number of redundancies due to be made.

General manager Peter Lloyd said: “The business could no longer compete by employing its existing business model.

“It needed to adapt to protect the majority of the workforce, pay its taxes and continue servicing its extensive client base.

“With regards to redundancies, we are carrying out this regrettable process with due consideration to all the regulatory requirements for such matters.

“The directors and owners have not rested in their attempts to preserve and protect the business through a continuing review of ongoing operations.