Océ, the Dutch printer and copier maker, plans to cut 350 jobs and a further €30m in costs this year after reporting first quarter results that showed printer sales suffered in the US and Europe due to knock-on effects of the financial crisis.

The company said on Thursday sales of its high-volume printers to the financial sector in Europe and the US had been postponed and the actual amount of printing done by banks and the construction sector in the US and Spain fell, causing a drop in sales of toner, ink and print media.