According to reports, workers on the night shift were given the news by company CEO Rudolf Hadorn at 05:30 this morning.
The loss of 95 jobs is a big hit for the Island, despite the recent announcement that 200 jobs are to be created at Vestas at nearby Stag Lane.
The composite manufacturing site on St Cross Business Park, Newport supplies fibre glass body panels to the automotive industry, including Aston Martin.
UPDATE @ 08:22 – Island Echo has been told a statement will be issued to the media on Thursday morning.
A spokesperson for Gurit in Zurich has not denied reports of the redundancies, which were reported first by Island Echo at 07:00.
UPDATE 08:39 THURSDAY – Gurit have this morning confirmed that between 80-90 jobs are set to be axed in Newport as part of three steps to shape the future of its Composite Components business.
Gurit’s Engineered Structures and Automotive sectors are to form a new Composite Components business unit focused on land transportation component applications in the premium automotive, bus and rail markets. This means that Gurit will transform the automotive section of its Newport facility in the mid-term into a technology center with product development, prototyping and production of smaller volume specialty manufactured components.
The plans mean that Gurit are to reduce the headcount at its facility on St Cross Business Park.
The proposed reduction of 80 – 90 staff during March – April 2015 results from expiration of a customer project and the associated lower workload for manually manufactured automotive parts, say the company.