Staff at the Thame depot of industrial gases group BOC are waiting to hear if their jobs are safe after the company announced a 3.5 per cent cutback.

The axe is to fall on 1,500 jobs worldwide and 200 in UK, in a bid to fuel higher growth across the business. The company employs 47,000 people worldwide, of whom 11,000 work in Britain.

BOC said most of the cuts would be made at its Edwards sites in Crawley, Burgess Hill and Shoreham-by-Sea in West Sussex.

Now the 55 workers at Thame depot, which provides liquefied gases for industry and medical services, including 95 hospitals, must await the outcome of consultations.

BOC hopes to save up to £55m a year through the restructuring plan, which is the result of a six-month review.

It said the company was already in consultation with employees affected by the restructuring plans and further operational efficiencies in the UK, Asia and the US would provide a further £50m of annual savings.

BOC has been hit by a marked downturn in demand for gases and vacuums from the high-tech semiconductor industry.

It said demand might not pick up until the middle of next year given the current economic gloom.

The job cuts will affect three divisions - BOC Edwards, Industrial and Special Products, and Process Gas.