Cambridge technology firm Xaar announces up to 160 job cuts
A Cambridgeshire-based technology company is to cut up to 160 jobs after a slowdown of sales in China.
Xaar, which employs 800 people and has sites in Cambridge and Huntingdon, develops inkjet technology.
The company has revised its 2014 revenue forecast because of slower-than-expected demand in China. The news caused a 33% drop in share prices.
About 20% of the company's workforce is expected to be cut.
Staff are taking part in a consultation about the move.
Xaar's chief executive Ian Dinwoodie said: "We are highly disappointed to have to make this level of cost reduction given the progress achieved over the last four years.
"Our exposure to the ceramic tile market in China, which delivered such strong growth over the last few years, is now driving a reduction in our sales."