NOTE AB to Layoff 100 in Sweden
Published: 20 October 2008
by Mike Buetow
DANDERYD, SWEDEN – Top 50 EMS firm NOTE will cut headcount by 100 workers in Sweden and move certain production to its China plants.
This is in addition to its cuts earlier in the year, when the company laid off 200 staff, just over 25% of its headcount in Sweden.
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."
NOTE concentrates on telecom, industrial, automotive, medical, and security markets. The company has operations in Sweden, the UK, Norway, the Baltics, Poland and China. It has annual sales of more than $235 million and roughly 1200 employees.
