The Newbury-based maker of broadcast, graphics and post-production systems announced a round of redundancies in October (Broadcast 10.10.08) and is now looking at a number of possible solutions including further job losses, pay cuts and non-attendance of tradeshows.
Chief executive Ray Cross told Broadcast: "Quantel is a strong company that is a leader in our markets, but we - along with every company - have to deal with a global recession that has hit far faster and deeper than anyone could have predicted. As a result some orders have been delayed and others put on the back burner.
"The steps we are taking now are in direct response to this worsening world economic situation and will ensure that we maintain the health and strength of Quantel throughout the recession, ready for when the upturn comes. To ensure this, we need to reduce our costs, and a range of prudent cost reduction options is currently being considered."
A Quantel spokesperson was unable to confirm which cutbacks were most likely or how many jobs might go, but he did acknowledge that ‘everything' was up for consideration.