Lord Bamford’s JCB has axed around 230 workers amid a global slump in manufacturing.
It is understood the construction giant has slashed its headcount since the summer, as bosses prepare for a protracted downturn across the sector.
Those affected by the cuts are agency workers across different parts of the business, all of whom are drafted in from outsourcing specialist Guidant Global.
The decision to scale back its workforce comes ahead of the Government’s bid to strengthen workers’ rights, which will include awarding basic entitlements from day one of employment.
It also follows a downbeat trading update last month, as JCB, one of the largest manufacturers in Britain, warned that its outlook was growing increasingly uncertain.
Chief executive Graeme Macdonald warned that while profits rose from £557.7m to £805.8m in 2023, the business is now expecting a drop-off in activity.
There was no mention of any job cuts in the update.
He said: “The full-year market outlook for 2024 is less positive, with challenging conditions in the UK and Europe, particularly in Germany where economic activity has declined sharply during 2024.
“In the UK, housebuilding activity has contracted, which is having a negative impact on machine utilisation.”
JCB is owned by the billionaire Tory donor Lord Bamford, who took over the business from his father in the 1970s.