Doubt over jobs at Ipswich company
DOUBTS surround the future of jobs at an Ipswich based video production company.Cinram UK, based on Central Avenue, on Ransomes Europark, currently employs 213 workers producing pre-recorded videos and DVDs.
DOUBTS surround the future of jobs at an Ipswich based video production company.
Cinram UK, based on Central Avenue, on Ransomes Europark, currently employs 213 workers producing pre-recorded videos and DVDs.
On Friday it is understood that staff were told there may be significant job losses.
No-one has been available from the company and employees have also refused to comment.
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The Ipswich division is part of Cinram International Inc., which is one of the world's largest independent providers of pre-recorded multimedia products and logistic services.
With facilities in North America and Europe, Cinram manufactures and distributes pre-recorded DVDs, VHS video cassettes, audio CDs, music cassettes and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world.
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The possible job losses come after Cinram Inc announced record levels of revenue for the year ending December 31, 2002.
On its website it said: "Consolidated revenue increased by six per cent to £549.1million ($878.7 million), up from £519.8million ($831.7 million) in the prior year. Profits before interest expense, investment income, unusual items and income taxes increased to £49.5 ($79.2) million, compared to £23.56million ($37.7 million) in 2001.
A company statement added that the increase in gross profit resulted from a shift in product mix to DVDs, improved production efficiencies and overhead cost controls and the increased ability to manufacture most DVD orders in house, said the company report.