Economic gloom puts Agfa’s AU$233.6m cost-cutting plan into action

The Belgian pre-media giant said that the majority of the savings would be achieved through a reduction in sales and general administration costs.

The worldwide savings programme, which is due for completion by December 2010, includes €32m (AU$62.3m) of cost savings in Belgium at the cost of around 300 jobs.

Agfa said that this number would include “the reduction already planned in anticipation of the volume decrease in the production of traditional film products”.

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