January 22, 2018 11.51 am This story is over 46 months old

Dynex committed to Lincoln R&D centre despite 38 redundancies

Renewed commitments.

As first reported on Lincolnshire Business:

Dynex Semiconductor Ltd has said it is committed to continuing operations at its Lincoln site despite 38 redundancies over the last 10 months.

The firm, based on Doddington Road in Lincoln, made 19 members of staff redundant in March 2017 as part of a ‘rebalancing of the organisation’.

A further 19 members were recently made redundant in order to bring the firm ‘in line with business expectations for the year’.

Dynex has however confirmed that its Research and Development (R&D) centre and offices in Lincoln will continue to see significant work on site despite rumours the facility could be moved.

The company has also confirmed that despite a 5% decrease in turnover in 2016 from £23.8 million to £22.6 million, Dynex has seen an increase for 2017, with the third quarter seeing an 18% increase in comparison to the previous year – reaching $13.1 million (Canadian).

Clive Vacher, CEO at Dynex told The Lincolnite: “We reduced the firm by 19 staff back in March 2017 and we have just gone through another round of 19 redundancies this year.

“Last year, those redundancies were more of a rebalancing of the organisation.

“This time we are adjusting our workforce to bring it in line with business expectations of the year and there are no plans for any more redundancies.

“Dynex is committed to being on the R&D site for the foreseeable future and there are no plans to move out and there will still be significant R&D work done on this site.

“The R&D site will remain a very important part of the operations in Lincoln.”

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