JOBS will be lost at anti-forgery specialist Applied Optical Technologies (AOT) after the company confirmed part of the operation at its North-East headquarters will close.
The company, based in Washington, Wearside, said increased losses of £1.7m meant there would be reductions to its 140-strong workforce.
Problems at the company's European operation, which makes holographic security devices, forced it further into the red.
Pre-tax losses of £1.7m announced earlier this week compared with a £700,000 loss during the same period last year.
Despite a successful performance from AOT's US operations, turnover fell from £12.7m to £12.2m.
The company, which has business interests throughout the world, safeguards trademarks for US sporting leagues, including for basketball, American football and hockey.
Its brand protection business in the US saw turnover rise by one per cent, although operating profits were down five per cent.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article