Ilab-Rocket will close its Frith Street operation this month, resulting in a round of redundancies.
In an effort to preserve what has been described as the “nucleus of the business”, the majority of the company’s equipment will be moved to its Poland Street office and 15 people will be made redundant.
Of those 15, seven will subsequently be offered new contracts, bringing the potential total Ilab-Rocket headcount back to 23.
Ilab-Rocket was formed through the merger of film processing facility Ilab and post-production house Rocket in April (Broadcast 08.05.09).
Managing director Nigel Horn said: “It is with genuine regret that due to the reduction in the core Rocket post-production business, we have had to close our Frith Street offices. Rushes at Ilab continue to be buoyant and we look forward to offering a complete service from our Poland Street premises.”
Once the move is completed, Ilab-Rocket will revert to being known simply as Ilab.