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JCB - which has its headquarters in Staffordshire - has announced it is to begin a consultation with staff over proposed redundancies. It's after a downturn in the world market for construction equipment. It's not known where the jobs will go.
The company says up to 400 staff positions are at risk in the UK, but they hope to consider voluntary redundancies.
The Chief Executive of JCB Graeme Macdonald said:
Market conditions in the construction equipment sector have been difficult for some time, but they have worsened quite rapidly in recent weeks. The situation is not about to improve, certainly not in the short term.
In the first six months of the year, overseas markets have dropped dramatically:
The JCB GT was today crowned the fastest digger on earth after reaching speeds of more than 70 miles an hour in Australia.
The JCB GT - originally designed by the Staffordshire-based company to perform high-speed wheelies at racing events – made the attempt in front of independent record officials at Bathurst, near Sydney.
Guinness World Records has today confirmed that the powerful JCB digger was officially the fastest backhoe loader in the world with a speed of 72.58 mph.
To celebrate the win the JCB GT went on a tour of Sydney and took a bow for photographers in front of other world-famous icons – the Opera House and Harbour Bridge.
JCB Demonstration Driver Matthew Lucas - nicknamed ‘The Dig’ during the attempt - was the man who steered the JCB GT to its world record title.
The 43-year-old from Werrington, Stoke-on-Trent, said: “It was great to be involved in such an exciting project and a real honour to be behind the wheel when we achieved the record.”
A record number of young women have started work at Staffordshire-based JCB as apprentices.
The group - who have just completed their first week at the company - have been recruited as part of JCB's Young Talent initiative, which has just created more than 100 new jobs for apprentices, graduates and undergraduates.
The new female apprentices come from all over the Midlands, including Stoke-on-Trent, Cannock, Rugeley, Stone, Solihull and Newcastle.
Staffordshire based JCB has taken its biggest order of the year.
One thousand machines, worth a total of £35 million will be made in the Midlands for a UK customer.
It puts the firm, which employs 12,000 people around the world, on course for their best year since 2007.
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JCB achieved its third most profitable year in its sixty eight year history in 2013, despite a fall in sales from 2012, according to new figures.
The company, which employs thousands from across Derbyshire & Staffordshire, sold more than 66,000 machines last year, raking in £313 million.
The company today announced that four of its high-speed, high ground clearance tractors equipped with trailers and two backhoe loaders were being despatched to the worst affected areas.
The JCB backhoe, will play vital role in shoring up flood defences and eventually in clearing debris left by the flood waters.
The machines are being shipped from JCB’s World Headquarters in Rocester, Staffordshire today.
The newest warehouse for Staffordshire-based JCB has been officially opened today, as the firm celebrates creating almost 100 new jobs in the past six months.
JCB World Logistics, which has its world headquarters in Rocester, took over the former Blue Planet warehouse in Newcastle-under-Lyme in July last year - and since then, 80 new warehouse and office staff have been recruited, along with 20 new drivers.
And job figures are expected to more than triple in the next two years as the warehouse becomes fully operational.
JCB chief executive Graeme Macdonald today unveiled a plaque marking the official opening of the warehouse.
Speaking afterwards, he said:
Staffordshire is where JCB’s business started almost 70 years ago and Staffordshire is where our heart is, so I’m delighted that the opening of JCB World Logistics is bringing more employment opportunities to the county.