Up to 66 jobs are at risk at Neutrik’s factory on the Isle of Wight, potentially cutting the workforce by almost 60%, Island Echo can reveal.
Staff were made aware about the potential for redundancies last week – just 14 months after redundancies were last made.
Neutrik, based at Cothey Way, specialise in the manufacture of innovative electrical and electronic interconnection products and systems.
63 positions are earmarked to go from the production department, with a further 2 jobs at risk in the operations department. 1 job could be lost within sales. If the redundancies go ahead, the workforce across the 3 departments will fall from 113 to 47 – a reduction of 58%.
It’s said that if circumstances change significantly then fewer redundancies may be made than is currently anticipated.
Letters are due to go out to all staff members at risk in the next 48 hours.
Island Echo approached the company for a statement on Friday but no response has been received at the time of publication – as per the previous article in 2019.
What are my rights?
If you are made redundant you are normally entitled to statutory redundancy pay if you’re an employee and you’ve been working for your current employer for 2 years or more. Your redundancy pay will be:
- half a week’s pay for each full year you were under 22
- 1 week’s pay for each full year you were 22 or older, but under 41
- 1-and-a-half week’s pay for each full year you were 41 or older
If you were made redundant on or after 6th April 2020, your weekly pay is capped at £538 and the maximum statutory redundancy pay you can get is £16,140. Length of service is capped at 20 years. Redundancy pay (including any severance pay) under £30,000 is not taxable.
You must be given a notice period before your employment ends. The statutory redundancy notice periods are:
- at least 1 week’s notice if employed between 1 month and 2 years
- 1 week’s notice for each year if employed between 2 and 12 years
- 12 weeks’ notice if employed for 12 years or more
Welcome to the club !
Best of luck all….!
Add THOUSANDS more when Ryde is built to destruction, and the jobless levels will be deeply concerning. We need less people not more now.
Spot on Geoff, similar with the whole UK, now we have data showing well over half a million more are losing their jobs, YET the Government will still allow in, or not return illegals. We may well need less people, but are getting ever more. Perfect storm of poverty, overcrowding, crime and misery for the next generation.
Geoff, that will please those who gain from more unemployed and sick, as they can employ them ‘off the books’ to boost their profits, by not paying NI, tax, pensions, and more insurance on such cash paid ‘casual labour’.
They make products that could be of use for the proposed wind farms on the island but were stopped by the NIMBY types. These jobs could have been saved if people looked forward and stop thinking of themselves all the time.
You are correct Richard.
Ok, but there is a world of difference between ‘would’ and ‘could’.
Thank god we have no wind farms on the Island. Wind farms are a complete waste of space.
Unfortunately a lot of other businesses that have enjoyed the comfort of workers being furloughed will be in the same situation. Sorry to see Neutrik in the position of potentially making over half of their workforce redundant. Worrying times ahead for many.
What a mouthful of what the company do, Innovative Electrical products and Systems, I’ve worked in a manufacturing environment most of my working life and I have too say this is one mouthful too many
It’s like calling a bin man a refuge engineer, everyone are now called technicians to flash up a job that’s semi skilled, and they need an ology to get an interview.
When I worked in a electronics factory, I was called a production operative and we manufactured sercuit boards for computers and mobile phones, no fancy job descriptions for us…
Circuits, sorry for affending you I hope you recover soon. Do you need some counseling?…
you might have “offended” him but not “affended” him
and “refuge” instead of “refuse”
And he probably meant to type counselling
since June Trucast been doing redundancy in June also August
Trucast have always been a hire and fire company, I worked there for fifteen years in the wax room among other areas.
Problem is, when the UK imported millions of workers from abroad, the ‘hire and fire’ attitude doesn’t work. As they then have to be kept, along with multitudes of children, once work dries up as it now will do.
Whereas a company can sack people and not pay out a bean, the country then has to keep all the excess ex staff forever, costly enough if your own people let along the worlds.
Hence hi tech machinery NOT more bodies should have been the ‘way to go’. People are less and less needed in many jobs now, but the UK has imported more and more.
We will pay a huge, price in so many ways for this obvious folly.
God help your children’s future
I heard leslies motors made some too.
Both posts 1 for this and 1 for the floating bridge have appeared then vanished. What’s up mate?
So sorry to hear this news from the leading brand of professional audio interconnects, as a reseller of your brand in the UK, and in the same industry we feel your pain. The entertainment industry is on its knees and there will be so much more of this if theatres, late night venues, film and TV can not return to normal soon.
Sad day for our industry, but especially the people that work in Ryde.
The employee numbers quoted by the Echo do not tell the whole story because pre-pandemic the company operated with an army of temps as well, meaning the workforce was way over 200 hundred.
A job is a job but this company is not a good place to work.
I no how they feel I’ve been made redundant myself let’s hope all fine a job soon good luck everyone
I worked there once for a couple of months…. thought my brain was gonna fall out.
Was glad for the work though. Hope all prosper in the end.
Another Company going, it’s a question of who’s next.
Where are the new jobs coming from?