The company announced the plans as it released details of its first quarter financial results.

A spokesperson told printweek.com that the US would bear the brunt of the losses which would also hit Europe. Positions across all divisions bar sales will be affected and are expected to be completed by November of this year.

The measures are part of a bid to boost cost cuts from €50m (£39.3m) to €80m this year.

Revenues for the quarter were down nearly 3.7% at €702m. Excluding the effects of exchange rates, revenues showed an organic growth of 1.3%.

Océ chairman Rokus van Iperen said revenues were affected by a number of factors: "In the financial sector the purchase of new very high volume printers was postponed... There was also a decrease in printing volume at banks and in the construction sector, particularly in the US, which meant that [recurring] revenues from maintenance, toner and media lagged behind those of the previous year."

The company's EBIT operating income was up 50% to €32.1m, but almost half of this comprised the sale of the Océ Document Technologies (ODT) and other reorganisation benefits.

Net income was up three quarters year on year to €21.3m.

Océ's share price fell nearly 10% on the Euronext exchange to below €10 on the news yesterday (3 April), although were trading at €10.03 this morning.

Van Iperen said the company would continue to pursue its partnerships with Konica Minolta, Fuji Xerox and Canon as part of its strategy and did not change the company's full year outlook.