Newspaper article Evening Chronicle (Newcastle, England)

Oil Price Rise Blamed for Job Losses

Newspaper article Evening Chronicle (Newcastle, England)

Oil Price Rise Blamed for Job Losses

Article excerpt

Byline: By Gayle Tomlinson

A North East company has been forced to announce more redundancies following a record rise in oil prices.

Plastic cup manufacturer, Mono Containers, of County Durham, will make a third round of staff cuts after citing high fuel levels as a major problem in keeping costs competitive.

The firm, based on the Dragonville Industrial Estate, in Durham City, has announced 18 job losses, with more expected in the future following a business review.

Earlier this year the firm announced 60 redundancies and last year it made 35 redundancies.

The new round of cuts was made during a meeting between unions and employers on Wednesday.

The firm said oil prices were going to cost the company an additional 5m Euros in the next 12 months.

The cost of oil has risen dramatically to $54 per barrel over the last six months.

Gerry Hunter from Amicus, the union which represents some of the workers, said: "The company has announced 18 redundancies. …

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