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Océ to shed 300 more jobs following €14m Q2 loss

Jul 6, 2009 12:15 PM
Tags: océ | job | cuts | q2 | digital | printing | equipment | manufacturer | iperen

Océ will cut 300 more jobs after posting a €14 million (A$24.6m) loss for the second quarter of 2009.

The digital kit manufacturer accelerated its cost cutting programme "amidst today's economic turbulence". The announcement comes just over a month after the Dutch business announced it was to cut 800 jobs.

Océ's total revenues dipped by 4.1 per cent to €676m (A$1.19 billion) for the March-May period, a greater than expected loss for the quarter, though free cashflow increased to €16.5m.

Chairman Rokus van Iperen said increasingly challenging market conditions had led to disappointing normalised operating income.

He cited a decline in revenues from the construction and manufacturing sectors -- as well as government, healthcare and education sectors -- for the decrease in sales.

The group now hopes to make €124m (A$218m) in savings for 2009.


Read the original article at www.printweek.com.

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Océ to shed 300 more jobs following €14m Q2 loss
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