STOCKHOLM, Sweden, Oct. 1, 2002 (PRIMEZONE) -- During the year, WM-data (Other OTC:WMDTF) (Stockholm:WMb) has carried out a number of measures that have successively reduced its total costs. Nevertheless, demand for IT and product development services have continued to weaken during the third quarter. Against this background, WM-data finds it necessary to implement further cutbacks, particularly in its Swedish operations. It is estimated that a total of 400 employees will be affected and the costs, which will be reported among items affecting comparability, will amount to about SEK 125 M. Some of these measures, such as the shut-down of WM-data Knowledge with about 80 employees, have already been taken and the others will be implemented during the coming quarter.
More information will be provided in conjunction with the release of the interim report on November 8, 2002.
For information contact:
Anna Brogren, press contact, phone: +46-8-670 71 72 Rickard Petri, CFO, phone: +46-8-671 66 40 Crister Stjernfelt, CEO, phone: +46-8-670 20 55
WM-data is one of the Nordic area's leading IT companies. Group sales is approximately SEK 7,500 million and the number of employees are approximately 7,000. WM-data's business concept is to create tangible benefit to the customer through a wide range of value adding IT-related services in selected customer segments. For more information, visit the company website at www.wmdata.com.
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