Up to 170 jobs are set to be lost in Gateshead after De La Rue has confirmed its plans to shut its foreign currency print line.

The company, which is the world's biggest banknote printer said the job losses are due to a restructuring programme - but it adds to the 100 jobs that had already been cut when the company lost its contract to print British passports after Brexit, which are due to go in the Autumn.

Unite national officer Louisa Bull said:

The government’s short-sighted and blinkered decision to award the printing of post-Brexit UK passports, worth £490 million, to French-Dutch firm Gemalto seriously undermined the financial viability of the Gateshead operation. UNITE

According to Unite, there will still be about 200 workers doing currency printing at Gateshead, following the passport and currency printing losses.

In April last year, the firm said it would not appeal against the Government's controversial decision to choose a Franco-Dutch company to make the new blue UK passports after Brexit.

The company confirmed that its full-year earnings would be hit by a write-off of about £4 million related to the bid costs for the passport tender.