Pentamedia Graphics cuts staff by 350

BANGALORE: Chennai based Pentamedia Graphics will be reducing its workforce

by about 350 people through regular attrition and lay off. Incidentally the

company had doubled its staff last year.

Company sources revealed that this is part of the cost cutting exercise that

Pentamedia has engaged in, recently. According to Dataquest's, DQ Top 20 report,

the company's workforce strength, last fiscal, was registered at 2,122. During

the year, its rating dropped from 21st position to the 22 nd position in the DQ

Top 20.

Although company officials have failed to confirm this, inside sources reveal

that the exercise is already on and will be completed within the next month. The

company is also aggressively marketing its ways through the European and APAC

market. Plans are underway to set up a studio in UK.

After establishing its presence in US, its has consolidated its number of

offices across the globe from 20 to 12. It has a large studio and development

facility in Chennai apart from studios in the US, Manila and Singapore.

The company reported a revenue of Rs 552 crore for the financial year

1999-2000, representing a growth of 41 per cent against its previous years

performance. US contributed 79 per cent of its revenue while APAC had

contributed 13 per cent and the rest came from Europe and domestic market. While

exports contributed 95 per cent, domestic market contributed the rest.