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Aga cuts 400 jobs

Published: 14 January 2009
Oven range and kitchenware manufacturer Aga sheds 400 jobs after announcing a downturn in sales.
Aga cuts 400 jobs
The Shropshire based firm, most famous for its cast-iron ovens, also sells ranges of cookware as well as fridges, others cookers and stoves.

Sales of its iconic Rangemaster are down by 12,000 to 68,000 from 2007 to 2008, news that led to the firm's shares falling by 11.7% this morning.

Aga said operating profits also dipped in the second half of 2008, as the economy worsened and consumers tightened their belts, and were 'appreciably below' the first half of the year.

The company said it had already cut its workforce by 12 percent below the start of 2008, which has seen about 400 staff leave.

Aga chief executive, William McGrath, said: "We have acted decisively in response to the changing market conditions."


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