Wace Corporate Print in Swindon is in talks with its 106 staff and the GPMU about proposed redundancies.

Managing director Angus Steel said the measures were part of keeping the company competitive, and although he said that no firm figure had been arrived at he dismissed a mooted figure of 30 as "ludicrous".

"Were only negotiating about the possibility of redundancies spread across all areas of production. Its part of the day-to-day running of the business not a major refocusing or restructuring," said Steel.

He added: "The financial security of Wace Corporate Print is absolutely secure."

Wace sold its Corporate Print plant at the beginning of 1999 to a management-led team for a deferred payment of 2.3m. However, it retained a 25.06% stake.

GPMU Gloucester assistant branch secretary Martin Hodges said talks were at an early stage and that there had been no compulsory redundancies.

Last year Wace Corporate Print bought two Heidelberg B1 presses an eight-colour and a 10-colour.

Story by John Davies