The Belgium-based company has blamed the current economic climate for the restructure, which will see around 10% of its 900-strong workforce made redundant, along with a reduction in its operational spend.

EskoArtwork made the announcement despite profitable growth in 2008.

Chief executive Carsten Knudsen (pictured) said: “2008 continued an unbroken record of growth in our bottom line over the past five years. However, we cannot ignore 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.”

He added: “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 Knudsen said he expects the business to emerge in a stronger competitive position.

Read the original article at www.printweek.com.

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