EskoArtwork Restructures Organization

GENT, Belgium—EskoArwork announced that it will restructure its worldwide workforce by about 10 percent. In addition, the company will reduce its operational spending. The current economic slowdown and 2009 global outlook have 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 the current economic conditions, nor 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 a continued profitable performance, while simultaneously safeguarding our long term strategic goals."

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