IT recruiter Plexian has axed two offices, in Exeter and the City of London, blaming the current state of the technology market for the closures.

The company, created by the merger of Plexus and Olympian in December last year, will continue to operate from its Weybridge office as well as its operations in Edinburgh and Australia. Plexian is said to have a turnover of £40m.

Business development director Roy O’Brien told Professional Recruiter that there would be redundancies, but that the company would try to save as many jobs as possible. ‘We are still in consultation with the workforce about job losses, but it could be as high as 15,’ he said.

CEO Howard Butterfield said: ‘It’s very difficult to put a positive slant on this, but we’re de-gearing the business and batoning down the hatches. This action reflects both current market conditions and our prognosis for the medium term.’

O’Brien admitted that the Exeter office had been unprofitable for some time, while overheads in the City made keeping an office there untenable in the present market.

‘This is the right time in the market cycle to reduce costs and improve efficiency. We want to ensure that with this restructuring we are in a solid position going forward,’ he said.

O’Brien also expressed regret over the upcoming job losses. ‘I’ve got a fantastic group of staff who are in a vulnerable position,’ he said. ‘We are trying to save as many jobs as possible, and relocation is an issue.’