Long-established printing firm Bridson & Horrox has announced job losses.
Three members of staff have taken voluntary redundancy and other redundancies are likely to follow as part of a restructure of the business.
Operations director Tommy Crowe said the company’s three-year business plan was being reviewed following the loss of long-standing contract to the UK and the recent decision of AIB bank to move back to Ireland.
And he said this showed the importance of island-based companies shopping locally to support other Manx businesses.
Based on the Hills Meadow industrial estate in Douglas, Bridson & Horrox was established in 1933 and remains in the same third generation family ownership today. It currently employs a workforce of just over 40.
Mr Crowe said the three who have left so far have taken voluntary redundancy. He said the total number of redundancies is still to be decided.
He said: ‘Bridson & Horrox Group operates on a revolving three-year business plan and this restructure – which sadly means the loss of a number of staff – will ensure the company maintains its position as the Isle of Man’s leading provider of total print and office solutions in the future.
‘The recent decision of a large financial institution to relocate back to Ireland and the loss of a long-standing contract to the UK in the last 18 months has resulted in us reviewing our three-year plan.
‘This really highlights the importance of why companies who operate within the island should shop locally and support fellow Manx businesses, especially in the current economic climate.’
He added: ‘Bridson & Horrox is in an incredibly strong position moving forward, and remains committed to serving the needs of our clients and continuing to build for the future. There will be no difference in the exceptional levels of customer service and focus that we deliver either now or moving forward.’