Aerospace company Shorts told workers and unions yesterday that 300 employees are to be made redundant at the Belfast-based company in a second wave of job losses.

Almost 600 people have already been let go following an announcement in March and, originally, it was believed a further 580 would be made redundant.

A spokeswoman said: "We deeply regret having to lose valued employees although the number is fewer than the 580 originally estimated.

"The aerospace industry continues to face challenging times and an uncertain volatile market. It is essential we regain our competitiveness to help secure jobs in the longer term and to be ready for the upturn in the market when it comes.

"We will be closely monitoring our production rates over the coming months to meet our requirements. We will also be working closely with local trade unions to help mitigate the number of redundancies, as we have done in the past."

Shorts is owned by the Canadian firm Bombardier, which in April revealed $600 million (€532 million) losses worldwide.

The aerospace industry has struggled in recent years since the September 11th attacks in the United States, with the fear of terrorism, the global economic downturn, competition from low-cost carriers and the recent SARS outbreak all taking their toll.

Many airlines have experienced financial difficulties and have cancelled aircraft orders or put them on hold.

The company is currently engaged in a pay dispute that is threatening 1,000 jobs.

Talks between management and trade unions at its Belfast plant broke down. Workers rejected a proposed four-year agreement in May, which would have resulted in a pay freeze in the first year in return for employment assurances.