DETAILS of budget cuts that saved a printing company from closure have emerged.

Bosses at Polestar reached an agreement with employees and unions in March to keep the factory running, at Severalls Business Park, Colchester.

The deal means employees will now have to work a 39 hour week, up from 35 hours.

Their salary base rate has been cut by ten per cent and 11 members of staff have opted for voluntary redundancy.

Workers also face a cut in holiday entitlement and a cap on overtime pay.

It followed a 90-day consultation that began in January as difficult trading conditions made closure a real possibility.

The changes are estimated to have saved the company £1.7 million a year.

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