The UK printing industry could lose almost 11,000 jobs next year, with over 300 companies set to be in serious financial trouble, according to a new report.
The first edition of 2002 Plimsoll Portfolio Analysis: Printers surveyed around 2,000 UK print companies. It reveals that over the last three years salaries rose by 19%, against only a 13% increase in sales.
Plimsolls 12 analysts compiled the data from companies financial reports. They arrived at the job loss figure after "taking a global view of what it would take to put a company faced with stagnant sales and rising costs back to a sustainable level".
GPMU deputy general secretary Tony Burke said the report was "of great concern".
"The information from our branches and members is that there will be further cuts," he added. "We recognise companies are in difficulties but our message is to hold firm."
Contact: 01642 257800.
Have your say in the Printweek Poll
Related stories
Latest comments
"And here's me thinking they bought the Docklands Light Railway."
"15 x members? Why don't they throw their lot in with the Strategic Mailing Partnership (SMP) and get a louder voice?"
"Some forty plus years ago I was at a "sales" training seminar and got chatting to the trainer after the session had finished.
In that conversation he told me about another seminar he had..."
Up next...
Customer demand increasing
A4 Laser Labels expands with larger site and kit investment
Price rises in US 'to at least partially offset' costs
Cimpress withdraws guidance due to Trump's tariffs
Proceeds to be invested in growth strategy
James Cropper sells some specialist IP
Making changes to limit tariff impact in US