TRAIN and signalling manufacturer Adtranz axed 260 UK jobs on Monday, months after its president admitted the firm was in a 'critical situation'.
Adtranz, owned by German outfit DaimlerChrysler, has now offloaded 600 jobs this year.
The latest redundancies will see 260 staff depart before April, with 70 chopped from offices in Crewe, 130 in Derby and 60 in Manchester.
Per Staehr, chief executive officer at Adtranz, said: 'In the marketplace we are operating in, it is essential that the company matches staffing levels to market demand and reduces its cost base in order to remain competitive.'
To try to stem the losses, Adtranz introduced a series of new cost savings and recovery plans at the start of this year.
In June, the firm decided to close its Birmingham office. This move was followed three months later by a letter from Adtranz president Rolf Eckrodt warning staff of the 'critical situation'.
In the letter, leaked to Construction News, Mr Eckrodt, says: 'We must all realise we are in a fight for Adtranz's survival.
'The sense of urgency cannot be emphasised enough.'