Smart meter firm to axe 288 UK jobs citing Brexit pressures
Landis+Gyr says costs have risen after pound collapse
Updated : 14:12
Smart meter manufacturer Landis+Gyr is planning to axe 288 jobs and move production to Continental Europe and Asia, citing Britain's decision to leave the European Union, the GMB union said.
The company warned the jobs will go at their Stockport site, the union added. Landis has been contacted for comment.
The UK's largest maker of smart meters reportedly cited a 20% increase in product costs due to the collapse in sterling after the referendum decision in June 2016.
Landis+Gyr are now proposing to move the manufacture of gas smart meters bound for British homes to Europe and Asia, the GMB said.
The BBC cited a company spokesperson as saying the consultation process would "examine means of optimising the production costs" of its UK smart meters.
"We place great value on our staff and are committed to conducting the consultation process in an open and collaborative fashion," the spokesperson said.