*NEWS*OCE TO REDUCE COSTS & LAYOFF 500

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*NEWS*OCE TO REDUCE COSTS & LAYOFF 500

 user 2005-11-10 at 11:59:00 am Views: 64
  • #14565

    Océ to Reduce Costs, Strengthen Profit Growth
    Company to relocate some production operations, cut 500 jobs in Europe.
    Venlo,
    the Netherlands,November 2005 – Océ N.V. the leading international
    manufacturer and provider of digital document management technology and
    services, today announced that the company intends to deploy a cost
    reduction programme in Europe to further strengthen its profit growth.
    Inline with this approach, Océ earlier announced a partial shift of production to Asia and central Europe.
    Sales
    of new printing systems are increasing and the trend towards recurring
    revenues from service contracts is developing positively. Further cost
    reductions are necessary to achieve the strategic growth and profit
    objectives disclosed earlier.
    It is anticipated that Océ will cut
    500 jobs in Europe, including 150 at corporate headquarters in Venlo,
    the Netherlands. This total excludes staff reduction as a result of the
    shift of production capacity announced earlier. Océ will provide the
    employees involved with as much assistance as possible in obtaining
    employment elsewhere.
    Besides staff reduction, additional savings will be part of this programme.
    The works council and the labour unions have been informed