The affected staff work across three shifts, with one acting as floater. One member of each shift and the floater are to be laid off, although the names of individuals were not given.

An insider at the Edenbridge-based corporate print and report and accounts specialist said the reason for the redundancies was the increased pressure on margins.

When St Ives announced its interim results in April it warned of increasing pressure in its financial print division, and stated: "Other, non-specialist printers have sought to enter the market for reports for mutual funds and public companies, which is becoming increasingly competitive as a result".

No one at St Ives was available for comment.

GPMU deputy general secretary Tony Burke said: "Our local branch officer Dennis Spencer has been trying to persuade the company to consult properly over proposed redundancies. The company has taken no heed of this and left us with no alternative but to ballot our members for industrial action.

"The ballot for industrial action is going ahead, following a request from our members."

Spencer was still involved in talks with the company yesterday (6 July).

Story by Darryl Danielli