JM gives notice to 250 people in Stockholm

JM gives notice to 250 people in Stockholm Notice on possible layoffs has been filed with the county employment board in Stockholm. The notice pertains to 250 employees and covers craftsmen as well as salaried employees. Negotiations with the affected unions will be initiated after the summer holiday period. "We are now further adapting our organisation to the prevailing market situation for offices and housing in Stockholm," comments, Johan Skoglund, CEO of JM. "We are thereby creating readiness for a postponement of a number of housing projects. As a consequence of this, unfortunately we must serve notice to 250 people." In March JM laid off 100 employees, also as a result of the current market situation. For additional information please contact: Göran Malmberg, Head of HR, JM AB, tel +46-8-782 87 85, mobile +46-70-606 87 85. Stockholm, 26 June 2003 JM AB Corporate Communications This and earlier press releases are also available at www.jm.se JM AB is a public limited company listed on the Stockholm Stock Exchange. JM has around 2,700 employees in Sweden, Norway, Denmark and Belgium, and sales in 2002 amounted to approximately SEK 9 billion. The company is Sweden's leading housing developer, and the core business is project development of residential and commercial properties in central areas of growth markets. JM's operations are characterised by a focus on quality and the environment. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/06/26/20030626BIT00820/wkr0001.doc http://www.waymaker.net/bitonline/2003/06/26/20030626BIT00820/wkr0002.pdf