Lytham based Helical Technology, which is internationally acclaimed for its top quality design and manufacture of specialist high performance parts for car engines and exhausts, has announced a strategic review of its business = leading to the requirement for a reduction in labour costs. The family-owned business supplies clients across Europe, America and Asia from its headquarters and Technical Centre on the Dock Road in Lytham and also at Warton.
The world-leading firm, founded over fifty years ago, says it hopes to minimise redundancies, but intends to commence collective consultations across the business. This puts a potential forty-seven roles to be at risk of redundancy.
Helical Technology said a comprehensive re-organisation of specific functions has been necessary as the Covid-19 crisis has hit both the order book and supply chain.
Managing Director Alistair Morris, announced, ‘Unfortunately, the fallout from the pandemic on our business has been dramatic and within the space of two months our order book has fallen by over twenty per cent and is unlikely to recover in the near future. Sadly, and despite the crucial support of the Government’s furlough scheme, we are left with no choice but to restructure the business, so that our costs reflect and are more closely aligned to the new sales forecasts. Our workforce is fundamental to the success of the company and we will do all we can to support those valued members of staff who will be affected by the redundancies.’