•  In addition to a normal downturn in the economy, the entire global economy has been impacted by a financial meltdown that has affected our customers extremely hard, which resulted in a dramatically reduced demand.

• In this situation, our companies are forced to make the difficult decision to reduce the number of employees to safeguard the companies’ futures.

• Regretfully, we have no other alternative to permanent terminations of employment, which is a distinct disadvantage compared with our competitors on the European Continent. Backed by government wage and salary subsidies, they can partially layoff personnel by offering part-time employment and avoid permanent termination of employment. When the market eventually recovers, they can quickly add on skilled personnel and consequently avoid production disturbances and quality problems.

• With a system similar to those in Germany, Belgium, France and other countries, our companies could have reduced the extent of their layoffs at the Swedish production facilities and as a result retain the skilled personnel that are needed again when the markets recover.