UPDATE 2-GKN cuts further 1,400 jobs, plans more in 2009

Newswire

* Says 2,800 staff laid off since Oct 2008 * Planning plant shutdowns, short-time working * Sees FY profit meeting higher end of revised guidance * Shares jump 11 percent (Adds shares, details on aerospace, net borrowings) LONDON, Jan 28 (Reuters) - British aerospace and automotive engineer GKN Plc added to gloom in the jobs market by announcing a further 1,400 layoffs on Wednesday and plans for more cuts for 2009. Pretax profit will come in at the higher end of the 150 ...

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