UP to 550 people are at risk of redundancy after Wolverhampton-based Tarmac Building Products announced plans to close its precast and flooring business.
The move had come as a result of tough underlying market conditions and a lack of certainty in customer demand, the building products supplier said.
A 90-day consultation began with staff on Tuesday across five separate sites: in Derby, Lincolnshire, Taunton, Powys and Lound in Nottinghamshire.
Tarmac Building Products chief executive Blair Illingworth said: “Tough underlying market conditions and continuing uncertainly of demand have led us to review the options for the future of our precast and flooring business, and we have taken the difficult decision to consider its closure.
“This affects five sites across the UK and, unfortunately, means that around 550 people are at risk of redundancy.
“It is not a decision we have taken lightly and we will begin a 90-day consultation period with employees affected by this.
“We will also liaise with our customers to discuss how this could impact them.”
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