Presstek cuts 20% of workforce

Presstek will cut 20% of its workforce as it pushes through its strategic repositioning plans.

The company will align itself more closely with its direct imaging and CTP markets and partners, but its Lasertel subsidiary will remain unaffected.

This move follows Pressteks decision to realign itself into Direct Imaging and CTP business units after a business review carried out by new president and chief executive Edward Marino (PrintWeek, 17 May).

A spokeswoman for Presstek said the 50 jobs affected would mainly go in technical support.

The firms Hampshire Drive research and development facility will also be integrated into the companys main Executive Drive operations in Hudson, New Hampshire.

The second part of the restructuring will involve a streamlining of resources to focus on what Presstek deems its most profitable sectors. It will discontinue certain as yet undecided programmes, said the spokeswoman.

But Pressteks Pearl, Anthem and Applause technologies will not be affected by the changes.

Presstek expects to incur one-time charges of 3.1m ($4.6m), with aggregate annual cost savings expected to amount to 6m.

The majority of the repositioning will be implemented by the end of June, with the facility consolidation completed by the end of the third quarter.

As Presstek completes its restructuring it will look to broaden its sales channels by adding more sales and marketing personnel, the spokeswoman said.