At least three management positions are being axed as part of a restructuring programme at the troubled Wyndeham Press Group.

In November, the Hove-based company, which prints specialist magazines and commercial literature, announced a drop in pre-tax profits from £3 million to £1.9 million.

The magazine division, which accounts for almost 70 per cent of the business, had steadily improved with new contracts and a stabilisation of pagination.

But the direct and commercial mail business had suffered due to contract losses, tough competition and several bad debts incurred as a result of customer receiverships.

Since then the company has taken action to restore profitability to the affected businesses.

Bosses have decided to integrate Wyndeham Impact and Wyndeham Heron to apportion work between the businesses more effectively.

Their closer alignment will mean three management positions being made redundant, for which consultation has started.

Paul Utting, managing director of the Wyndeham Press Group, said: "We believe Wyndeham Heron's management team will be invaluable in both strengthening our web offset offering and further reducing the cost base of the combined businesses."

The group publishes 650 titles a month, including the British Medical Journal.

Thursday January 08, 2004