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EskoArtwork reduces 10% of workforce

Monday, January 19, 2009

Press release from the issuing company

Gent (Belgium) - EskoArwork today announced that it restructures the EskoArtwork worldwide workforce by approximately 10%. In addition, the company will reduce its operational spending. The current economic slowdown and 2009 global outlook has led to this decision, despite profitable growth in 2008.

"2008 continued an unbroken record of growth in our bottom line over the past five years" comments Carsten Knudsen, CEO of EskoArtwork. "However, we cannot ignore either the current economic conditions, or the outlook for 2009. In the coming year we will concentrate our efforts on servicing our large current customer base and our strategic developments while acting in a more conservative manner in other areas. By proactively addressing our cost structure, we can assure EskoArtwork customers and partners of continued profitable performance, while simultaneously safeguarding our long term strategic goals."

"The implementation of the restructuring will be complete by the end of January and we expect to over time emerge from this in an even stronger competitive position than we are today."




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