Applied Optical Technologies (AOT) is to cut 25 jobs as part of a "business improvement programme".
The programme, which was run in conjunction with business consultancy Knox DArcy, was undertaken to reduce costs, while maintaining output.
AOT chief executive Mark Turnage said: "The programme allows us to maintain our current capacity, particularly in our banknote and high-security area, while reducing cost structure and improving the efficiency of our European operations."
AOT said the review would be finalised in a month after consultations with employees.
The company said that the cuts would have a positive impact on next years results.
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