Job losses deepen the gloom at Senior

An already depressed outlook for this year has worsened, Senior warned yesterday.

The British precision engineering group revealed a further reduction in its employee numbers, but that news was overshadowed by a pessimistic prognosis for the business, sending its shares falling again, down 1 1/4 p, or 2.1 per cent, to 59 1/4 p, not far off 11-year lows.

Before the Covid-19 pandemic struck, the stock was at double that level and a year ago was above GBP2.

The company's market value now is below GBP250 million.

Late last year, Senior cut about 400 jobs, or 5 per cent of its 8,000 or so workforce, and yesterday it said that it had shed a further 12 per cent in the first six months of this year.

Senior is a

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