The takeover by Canada’s ABC Technologies will lead to significant job cuts at TI Fluid Systems, impacting up to 2,700 employees globally across various functions, particularly at their Oxford headquarters.
The board of TI stated that while the deal has been accepted, it raises concerns about potential departures from the London stock market amid a rising trend of overseas buyouts.
ABC Technologies intends to keep the balance of skills and functions among TI employees, although administration, corporate, and R&D positions will face the brunt of the layoffs.
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