Siemens has announced that almost 40 jobs are at risk at its plant in Ulverston.

The German-based firm has blamed the move on poor market conditions, caused by the low oil price.

It is expecting the market for the subsea connector and measurement technology it produces in Furness to remain flat in 2018 and has said it needs to become a smaller operation as a a result.

This news comes just five months after a similar announcement when 52 jobs were axed because of the poor oil and gas market, which has continued for longer than was expected by Siemens.

Mike Henry, general manager at the Ulverston plant, said: “I am deeply sorry about the impact of further reductions to our hardworking and dedicated team in Ulverston.

"I am committed to minimising compulsory redundancies and we will invite applications for voluntary redundancy from across the Subsea business. We will provide support and redeployment opportunities wherever possible within the wider Siemens organisation."

A spokeswoman added: "Up to 36 jobs are to be put at risk in the Ulverston site".

Other Siemens Subsea plants in Norway, USA and Brazil are also set to be affected by the market conditions.

The proposed changes are expected to take place by the end of October 2017.