MYDATA automation may lay off 24 in Stockholm

The global market for Surface-Mount machinery has been weak for a long time. The financial crisis has escalated these developments. MYDATA's sales have been affected negatively by the slowdown, but have nevertheless evolved considerably stronger than the market, through the introduction of our new product platforms - MY100 and MY500. The company has notified 24 of approximately 200 employees in Sweden. The ambition is that ongoing development projects will largely continue as planned and that delivery capacity is to be adapted to the expected demand. Besides staff cuts the company is also implementing numerous saving schemes and will review of all costs. The program is estimated to be in full effect from Q1 2009. Negotiations with the union organizations have started and the staff has also been informed.