The UK firm, which supplies carmakers including Land Rover and Ford, said it had cut 242 UK positions so far.

GKN said all its car part plants were now continuing to work shorter weeks due to the falling demand.

As a result, it said it was moving ahead with further “selected headcount reduction programmes”.

The Redditch-based firm has four UK factories manufacturing car parts in the West Midlands and Telford, that currently employ 2,000 permanent staff out of a UK total of 6,300.

GKN said 2009’s additional job cuts and wider restructuring would cost it an estimated £120m.

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