Stamford’s largest employer Cummins Generator Technologies is axing 45 jobs from its workforce just six months after cutting 95 jobs.
The firm, which is based in Barnack Road, Stamford, broke the news to staff on Wednesday and said it was due to the “continued downturn in market demand”.
Cummins said it had entered into a 30-day consultation with affected staff, who work on the shop floor in manufacturing, and the unions.
A spokesman said: “These actions are difficult and will impact a number of people who have worked for Cummins for many years but are necessary to respond to the sustained economic conditions being seen in Europe and ensure the long term success of Cummins and all its stakeholders.”
The firm, which manufactures generators and parts, employs about 680 people across its two sites in Barnack Road and Ryhall Road.
In November, the firm announced a 30-day consultation on cutting 95 jobs, which it said was linked to “short-term economics”.
But this week the spokesman said: “It was hoped the European economy would start to pick up in the second half of the year. However, the economic situation in Europe has not improved and we now expect the market will continue to remain flat for the remainder of the year.
“Despite this, we are confident the market will return and continue to invest in the long term.
“This includes a £5m investment in manufacturing equipment at the Barnack Road site in 2013.”
In November, the firm also announced it was moving 200 office staff from temporary buildings at Barnack Road into new offices at Lynch Wood Business Park in Peterborough between January and March this year.
This has been delayed until next month.