JOBS are under threat at a science firm as it looks to slash £2million a year from its running costs.
Immunodiagnostic Systems Holdings, which produces specialist diagnostic testing kits and automated systems for the clinical and research markets, employs about 300 people worldwide, including more than 100 at its factory in Boldon Colliery.
The firm is looking to cut costs after admitting revenue for the financial year to the end of this March is likely to be lower than expected in the face of increased competition.
“In response to these changing market conditions, the company has instigated an initiative to streamline the organisation and enhance profitability across the business,” said a statement.
The firm is offering staff the chance to take voluntary redundancy – but is not ruling out compulsory jobs cuts if not enough volunteers are found.
A company spokesman said it was not possible to predict exactly how many jobs would be lost or where the axe would fall.
He said: “All efforts will be taken to avoid compulsory redundancies where possible”.