Pyramid International, the poster-printing company in Whetstone, Leicestershire, has asked its staff to consider taking a 10 percent cut in wages in order to reduce job losses in early 2012.
A consultation period is now underway with the firm’s 90 employees and this is due to end on Monday, 9th January, 2012. The decision to approach staff comes after a slump in sales and an increase in delayed payments from the Pyramid International’s distributors.
The company’s posters are sold across Europe and also by the major high street chains such as WH Smith, Tesco and Next. In 2010, Pyramid International turned over £11.5m through sales of some 15m posters.
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