SMT & Inspection | April 07, 2009
MYDATA lays off 40 in Sweden
MYDATA automation is giving notice affecting 40 employees in Sweden. Notice of redundancy is affecting in total 40 out of 180 employees in Sweden. In addition to the notice the company has introduced a general cost reduction program. The programs will give full effect from the third quarter 2009.
The global market for surface mount equipment has continued to be weak. The financial downturn giving delayed investments decisions and difficulties for our customers to find financing have had a negative impact on MYDATA sales, the comapny said. "We have during the last 12 months introduced new generations of our product platforms- MY100 and MY500. Our position is strong with a highly competitive product portfolio. The action we are taking now is to adjust our cost level to reflect the current market situation. In the coming process we will thoroughly evaluate our need for core competences and make sure we have the ability to ramp up quickly when we see that the market recovers" says Bengt Broman, CEO of MYDATA. Information and negotiations with the local trade unions have started. All employees in Sweden have been informed.