In a statement, NOTE CEO and president Arne Forslund said, "We are now taking the next step, which we think will downsize our staffing in Sweden by another 100 or so. This current intended staff downsizing is mainly a consequence of our long-term strategy, and the fact that during the autumn, we will be introducing a new, more efficient organizational structure for our future. These measures will cut our costs, while also reducing business risks and our cyclicality. We will have a far better cost base at year-end than we did at the start of the year."

Forslund added that the manufacturing outlook has "deteriorated," with year-to-date sales to existing customers "somewhat lower than planned."

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