Around 150 people have been left fearing for their jobs as Neutrik announces it may soon cease operations on the Isle of Wight and move production to mainland Europe.
In a briefing to staff this afternoon (Wednesday), the Ryde-based firm explained that the factory is unable to keep up with demand and the company is therefore considering its options – 1 of which includes moving the factory’s operations to Europe.
Island Echo understands that from Monday consultations are being entered with advice sought on how best to move forward. The consultation period is expected to last 45 days and could end up with the Ryde staff being made redundant – with the loss of around 150 local jobs.
One source has said:
“They have trouble getting staff in and getting the orders out the door. They started moving jobs to Bulgaria a few months back and more and more work has been heading out there.
“A lot of us think they have already made up their minds”.
Neutrik has been operating in Ryde for around 40 years and was previously based behind Mayfield Middle School in Binstead. It now trades at Cothey Way near Tesco.
UPDATE THURSDAY – Mark Perrins, Managing Director of Neutrik UK, has said:
“Neutrik production has been closely associated with Ryde, Isle of Wight, for over 40 years, but recent events have resulted in circumstances that are negatively impacting the company’s ability to operate effectively from its current location.
“Recruitment, supply chain complexities and rapidly rising levels of global demand are the key issues requiring us to consider all available viable options, including the relocation of production to mainland Europe.
“At this time we are actively consulting with Neutrik UK staff. We will announce further details following the completion of all the appropriate consultation procedures.”
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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
Your weekly pay is the average you earned per week over the 12 weeks before the day you got your redundancy notice.
If you were made redundant on or after 6th April 2022, your weekly pay is capped at £571 and the maximum statutory redundancy pay you can get is £17,130. Length of service is capped at 20 years.
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
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