A FOUNDRY operator has denied workers’ jobs are under threat – but it is considering changes to shift patterns, The Northern Echo can reveal.

Bonds is speaking to staff about switching to a four-day week in measures to counter the oil and gas sector’s enduring downturn.

Some workers told The Northern Echo they feared their jobs may be lost in the changes, though the company last night played down the claims, saying staff will retain existing hours.

The firm, based in Tow Law and Crook, both County Durham, is known for making pump casings and valves for the offshore industry and has supported the North Sea oil sector for decades.

However, it has suffered from the effects of the lower oil price as companies postpone projects.

The potential changes come nearly a year after officials revealed they were assessing all options to safeguard the firms’ future, while figures show BondsHold Limited, which operates the businesses, suffered a loss of £880,488 in its latest accounts.

A spokeswoman confirmed bosses were now consulting with a small number of people, which the Echo understands to be around 25, at its South works, in Tow Law, which carries out moulding and casting.

She said the proposed changes would see staff go down to four days but keep their existing 38-hour rotas.

She added a lull in activity on the fifth day of the week, coupled with a weekend pause, would help the company save on energy costs.

“We need to be looking all the time at how the operations can be efficient”, added the spokeswoman.

The Echo understands there are no plans to change shifts at its Tow Law North works, which oversee finishing and quality control of products up to 12,000kg, or its Crook site, which caters for medium-sized castings from 50kg to 2,500kg.

Last year, BondsHold bought Sheffield steel foundry operator Darwins Holdings from foreign ownership to pilot a course through oil and gas turbulence.

But in its annual report covering the year to September 30 2015, which was released in the summer, bosses highlighted the difficult situation they face with offshore work.

They said: “Despite the parlous state of the oil and gas market, Darwins has introduced new customers to Bonds and will provide important capacity when the market recovers.

“Any upward revision in the oil price outlook will likely bring a quick turnaround in demand and improved prices, but there is, as yet, no sign of this.”

Back in 2011, Bonds revealed a deal worth up to £4m for Tow Law to make and repair Royal Navy anchors.

Just months later, officials set about converting a former Crook fridge factory into Bonds CastTech, a steel casting facility, which became the first new foundry to open for a generation when it began to pour steel in 2012.

The business also runs a Cumbrian precision castings base.