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Originally Posted by Lex
Just heard on the news that Peugeot is closing its Ryton plant down & laying 2,000 workers off. Some of the interviewees said that they'll really struggle to get new jobs.
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Oddly, Coventry City council seem rather relaxed. Then again, in the 1970s Coventry lost 40,000 jobs in the space of months.
This is, of course, what you get when you don't own your car industry. Any problems at head office, and the overseas plants are the first to go.
It's incredible to hear that there is not going to be any significant "ripple" effect with local suppliers - apparently, all the parts were shipped in from France.
Bad news for the workers, but in a way, Coventry's been moving away from motor assembly for years... 18% of the workforce of Coventry in manufacturing now, whereas a few years ago it was 55% - and unemployment in Coventry is low for a large city, and Warwickshire's unemployment is low.
Back in the 1970s/1980s the area's economy was based almost solely on the car industry/manufacturing - very little diversity meant that three companies shedding thousands of jobs was devastating.