The world's fourth biggest press manufacturer axed 90 employees in May last year and followed that up with 300 redundancies in October.

The cuts will leave Wifag with only 63 employees, although parent group Wifag/Polytype Holding still employs around 1,000 people.

All of the affected roles are based at the company's Bern headquarters in Switzerland. A spokesman for the company told PrintWeek that UK customers would not be affected by the move.

He said: "Service and parts to our customers in the UK will in no way be affected by these measures. We confirm that Wifag will continue to provide parts, services and support to all customers worldwide as in the past.

"This strategic goal is central to all solutions currently under examination. In this sense, our customers in the UK will continue to have active support from Bern."

According to the company, the latest round of redundancies comes as the company plans to focus on its service business model, branded 'Going it Alone'. Details of the new structure will be announced "imminently".

A statement from the company said: "This will ensure both that Wifag remains in a position to meet all its existing obligations and that it can deploy its resources in the most effective manner possible.

"The board of directors and the management committee are continuing to make every effort to identify solutions that will secure further jobs in Bern. They are confident of being able to announce certain decisions in the near future that might influence the consultation process."