On the day that Conservative Shadow Secretary of State for Business, Enterprise and Regulatory Reform visited Wyre Forest, leading Kidderminster employer Sealine made 297 of its 659 workforce redundant. This comes as a result of a dramatically falling order book for Sealine - a direct result of failing global economic conditions.
Mark Garnier, Wyre Forest's Conservative Parliamentary Spokesmen said: "Today we saw 297 Wyre Forest families waking up to face a bleak outlook. It is a tragedy when anyone is made redundant, and this is the second large redundancy we have seen in Wyre Forest. But this is markedly different from the recent redundancies at Ceramaspeed. Sealine is not losing jobs because it is moving to a cheaper operating location: it losing jobs because the economic conditions are taking a severe downturn.
"We may not shed a tear for the highly paid investment banker who loses his job as a result of risk taking, but the effects of the global slowdown are now beginning to bite in Wyre Forest. Today, a luxury boat builder loses 297 jobs because half the number are buying their boats as before. But tomorrow, Sealine's suppliers will be losing orders; the day after the small businesses that trade with Sealine's redundant staff will find they are making less money. The effects of a falling order book in luxury boats are cascading through our community. And with the credit crunch biting harder and harder, our local businesses will not be able to raise short term capital to see them through the bad times ahead.
"Today I brought Alan Duncan MP to meet with a select group of Wyre Forest businesses as well as the Hereford and Worcester Chamber of Commerce. His message was bleak. This country should brace itself to see as many as three million unemployed by the end of this recession (if not depression). Wyre Forest will not escape and we have seen the start of the slowdown today.
"My deepest sympathy goes to those families who have been affected by the redundancies announced today. It is a terrible thing to face uncertainty - especially when the outlook is so bleak. I can assure Wyre Forest residents that I will be working with my Parliamentary colleagues to work through this crisis."