From its headquarters in Gent, Belgium, EskoArwork has announced that it will restructure the EskoArtwork worldwide workforce by approximately 10 per cent.
The company will also reduce its operational spending, saying that the current economic slowdown and 2009 global outlook has led to this decision, despite profitable growth in 2008.Carston Knudsen, CEO of EskoArtwork, says, “2008 continued an unbroken record of growth in our bottom line over the past five years. However, we cannot ignore the current economic conditions, nor the outlook for 2009.”
Like other companies, EskoArtwork will look at consolidation and moderation. Knudsen continues, “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. 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.”
He concludes, “The implementation of the restructuring will be completed by the end of January and we expect to emerge from this effort in an even stronger competitive position than we are today.”
