The digital kit manufacturer accelerated its cost cutting programme “amidst today’s economic turbulence”. The announcement comes just over a month after the Dutch business announced it was to cut 800 jobs.

Océ’s total revenues dipped by 4.1 per cent to €676m (A$1.19 billion) for the March-May period, a greater than expected loss for the quarter, though free cashflow increased to €16.5m.

Chairman Rokus van Iperen said increasingly challenging market conditions had led to disappointing normalised operating income.

He cited a decline in revenues from the construction and manufacturing sectors — as well as government, healthcare and education sectors — for the decrease in sales.

The group now hopes to make €124m (A$218m) in savings for 2009.

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