Chief executive Steve Brundle said: "In order to secure the business moving forward, we have to make a particular amount of savings and that's what we've done.

"We've put a proposal together and we've just got to wait for the managers to come back and see how they can make the cost savings."

Brundle added that the proposal was in direct response to the current market conditions.

He said: " All of our factories are exceptionally full, but the margins are very tight and it's difficult turning a profit, so that's why we've had to do this. Many other printers have had to do the same."