ONE of the region's leading printing companies is to axe 80 jobs as a result of mounting losses.
Polestar Greaves has lost the contract to print The Guardian's weekend magazine.
About 50 jobs are to be cut as a result of the company closing its bindery section, on the Eastfield industrial estate, in Scarborough.
A further 30 to 40 employees are likely to be made redundant at the company's main printing factory at nearby Cayton Low Road.
A spokeswoman said "The decision has been taken because of continuing trading losses."
A joint statement issued by the management and unions said: "It has not been possible to find a workable solution that enables the bindery to reduce the cost base to an acceptable level."
It added that negotiations were continuing on the printing side of the operation.
Polestar Greaves has printed prestige publications, including the Sunday Times colour supplement and several national catalogues and top company brochures
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