Thousands of workers at manufacturing firm JCB have voted to accept a £50 a week pay cut to save 350 jobs from being cut, it was announced today.
The GMB union said around 2,500 of its members at seven JCB plants in England and Wales had agreed to go on a four-day week for the next 13 weeks to help the company cope with the economic downturn.
The union said the move was the first of its kind in the current economic slump and showed that the recession was "worsening".
GMB officer Keith Hodgkinson said: "I am delighted that we have been able to save 350 jobs.
"The short time is part of a worsening recession and these GMB members expect the Government and the Bank of England to take the necessary steps to begin large-scale public works to at least slow the recession down and prevent it getting too deep."
The union said the pay the workers will lose will partly be made up by money from a Government fund.
Factories affected by the decision include Wrexham in North Wales and sites in Cheshire and StaffordshireReuse content