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Writing's on wall for print firm jobs
A ST ANNES printing boss has come out fighting in the face of the company's "toug-hest time for years".
But the managing
director of Oldroyd Publishing Group said he cannot rule out redundancies in the near
future.
The company, which has operated on the Fylde for 35 years, has had to cut spending in the face of adverse trading conditions in the publishing industry.
Glenn Oldroyd told The Gazette he will have to lay off a "small number" of his 90 staff at the Lord Street offices in order to make further cost reductions.
He added he hoped to keep the number of redundancies in the single figures and will consult all departments over the coming weeks.
Oldroyd Publishing supplies magazines and leaflets to hundreds of doctors surgeries and estate agents across the UK.
A dip in the number of subscriptions to the magazines by small and medium-sized businesses has led to the cost-saving exercise.
Mr Oldroyd said: "We have had a very tough six months, in fact it's been the toughest time in many years I have experienced. This has been an unprecedented time for the publishing industry and we have been forced into implementing cost cutting measures to stop this from happening again.
"No-one likes to make these sort of decisions but in times like these they have to be made.
"We have made about three-quarters of the savings we need across the group but unfortunately the other quarter may come down to redundancy measures.
"The business itself is not in trouble and we will not be closing down as some of the areas of our business are doing very well considering the state of the economy."
The family-run firm is owned by the Oldroyds with its founder, Glenn's father, Harry still chairman.
Its first company, Homebuyers Services & Co, published personalised presentation folders for estate agents to use in the distribution of property particulars.
It has expanded its business over the decades to include internet and new media work, with some staff staying with the company for more than 15 years.
Mr Oldroyd added: "We have started a period of consultation and will know the outcome in around two weeks.
"I think there will be some redundancies, but I am hoping they will be kept to the single figures.
"There are other avenues to explore in the cost saving initiative so we are hopeful we can make savings elsewhere."
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Monday 13 February 2012
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