Basingstoke banknote printer could cut 60 jobs

Banknote printer De La Rue is set to cut its output and, subsequently, make a number of employees redundant, a recent news report in the local media has been able to reveal.

The Basingstoke-headquartered company has revealed that a „challenging market” has prompted the printer to reduce the output at its Gateshead site, a move that’s likely to result in up to 60 staff members being made redundant.

In November 2014, the company reported a drop in both revenue and profit for the six months to 27 September 2014.

At the time, the company said the pricing environment in the banknote print and paper markets is expected to remain difficult throughout 2015/16 with recent tenders reflecting the ongoing competitive pressures.

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