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