Honda to axe 800 jobs in Swindon

<p>Honda is set to cut 800 jobs at its factory in Swindon.</p>

Honda is set to axe 800 jobs at its Swindon plant this spring, which is the first time the company will have made redundancies in the UK since it set up production facilities in the country in 1992.

The carmaker has begun a 90-day consultation period and hopes to avoid compulsory redundancies at the plant, where 3,500 people are employed.

Honda blames weak demand in Europe for the decision to reduce its staff at the factory, which produced the Jazz, Civic and CR-V models.

Nevertheless, the Japanese company remains committed to manufacturing vehicles in the UK and Europe.

Its Swindon plant constructed 166,0000 cars last year, which is significantly more than the 97,000 made in 2011, but fell very short of the 250,000 target for 2012.

At close of play on the New York Stock Exchange last night (January 10th), Honda shares rose by 2.2 per cent to $38.17 per unit.

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