A Weybridge-based electric component firm has announced it is to axe 700 jobs from its global operations.

TT electronics, based in Queens Road, said the redundancies would include about 100 jobs in the UK.

The company employs about 7,000 workers globally and was forced to make nearly 600 job cuts last year.

Geraint Anderson, group chief executive of the company, commenting on the outcome of a strategic review, said: “The review has confirmed that the group's business is underpinned by its world class engineering skills and technologies, blue chip customer base and sound financial position.

“At the same time, we have identified opportunities which we believe can significantly improve business performance and drive shareholder value.”