Chief executive Yves Rogivue said the business did not require a dedicated print procurement team anymore.

“We are involved with global sourcing, and need to source in a global way across the supply chain. Print procurement remains a big part of the business, but we are doing it in a different way,” he explained.

“As hard as these things are, we are handling it in the correct and most ethical way possible, with a good package and working with an outplacement agency.”

Rogivue added: “We need to move forward where the business and clients take us. We are going much more into marketing activation, including digital and social media, so we had to do some realigning of our resources.”

He said the business had recently reconfirmed two substantial contracts and was currently hiring for a raft of new roles. “We are hiring on the technical side to make the business more automated."

These include design, technical and account management positions, as well as a print production manager based in Poland working with a key FMCG client, and a print production account manager at client Fasta in Sweden.  

KMMS has its EMEA headquarters in London, with other regional HQs located in the USA, Australia and Japan. The business grew out Konica Minolta's acquisition of print manager Charterhouse PM six years ago and employs around 600 staff worldwide.

The EMEA operation had sales of £136.2m in the year to 31 March.