HIGH-TECH firm Siemens Magnet Technology has axed 45 jobs due to a slowdown in its key healthcare market.

Staff at the factory, based in Eynsham, were told the news as they came into work today and managers said they were looking for volunteers to come forward during a 30-day consultation process.

The company manufactures the magnets used in magnetic resonancing imaging (MRI) scanners in hospitals around the world.