Despite being “fairly busy”, UK leather producer Pittards Plc has announced that it is to cut up to 50 jobs at its Yeovil site as a direct result of the continued downward trend in the dollar exchange rate over the past year. The company has entered in to a redundancy consultation period with its workforce and is seeking volunteers in the first instance before making any compulsory redundancies.

Commenting on the situation, Pittards’ Mike Dodd said, “The move through the $2.10/£1 exchange rate ten days ago precipitated the current action, it is hoped that we will see the dollar strengthen but we have to do more than just hope if current rates prevail a long way into 2008.”

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