PCB firm Circatex cuts 99 jobs in South Shields as market fallsChris DruceCircatex, the PCB company saved from administration last-year thanks to a management buy-out, has announced it is cutting up to 99 jobs from 820 staff at its South Shields plant.
The restructuring action has been forced on the company due to an unexpected further fall in the telecoms market.
Although Circatex has diversified since the beginning of the year, addressing growth areas such as automotive and the consumer markets, telecoms is still an important market for the company.
"This is unavoidable but bitterly disappointing because the staff have been so solidly behind the new company," said the firm's CEO Charles Brooks.