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Global downturn, Domino affected

04-Nov-2008

Related topics: Industry Drivers

Printing technology specialist Domino, which develops labelling machines for the drug, food and beverage industries, is cutting 200 jobs in a bid to reduce expenditure by £10m (€12.4m) a year.

70 jobs will be lost in the UK, with a further 40 positions going in Europe. The remainder of the cuts will be made at facilities in North America. CEO Nigel Bond told in-pharmtechnologist.com that the move was not a change of strategy and was in line with efforts to improve efficiency after acquisitions.

Bond admitted however that the decision partly reflected the global economic downturn. He explained that the firm was responding to a change “in patterns of expenditure” among its clients, which include “most major players in the pharmaceutical industry.”