UP to 60 jobs could be axed at a major Ulverston firm. 

Employees at Siemens Subsea were informed earlier today of proposed reductions in jobs to protect the long term future of the business. 

Siemens Subsea is a key player in the oil and gas industry and designs and constructs subsea power and data connection systems for key industry players.

Phil Ashley, managing director at Siemens Subsea, explained that challenges in the oil and gas market has had a significant impact on the firm. 

He explained: “Challenging oil and gas market conditions caused by the low oil price and investment reductions by Subsea customers have significantly reduced demand. 

"This could continue for the next two years.”

The company has confirmed that the apprenticeship programme will not be affected by the plans. 

Job reduction proposals have been developed following a rigorous review of the market and business structure. 

The business, which employs 421 people at its Ulverston site, will now enter into a 45 day collective consultation period. 

Phil Ashley, managing director at Siemens Subsea, said: “Our primary concern at this time lies in supporting our employees affected by the proposals."

“Our aim is to reduce the impact of the changes as much as possible. 

"Voluntary redundancies will be considered where possible, while redeployment and transfers to other Siemens businesses will also be fully explored for those employees affected.” 

Mr Ashley continued: “We are confident in the future long term prospects of the Siemens Subsea business in Ulverston after this medium term setback. 

"We remain committed to supporting a pipeline of engineering talent coming into our business so we do not envisage that our apprenticeship scheme will be affected by the proposed changes. 

"Our new product development programme will also continue which will provide new opportunities for the business when these come to market.”

 “We have been a part of the community since Tronic was formed in 1979 and remain a major employer in Ulverston and South Lakes. 

"We intend to continue our role as a local champion of science, technology, engineering and maths (STEM) and play our part in the local community as before.”