Electrolux cutting 3000 jobs
The world's leading electric appliance maker, Electrolux, says it plans to cut 3,000 jobs worldwide, as it warned it would not meet its 2008 operating profit target due to declining demand.
The company said the job reductions will take place in the fourth quarter of 2008 and in 2009.
The company had about 57,000 employees at the end of 2007.
Electrolux said demand for appliances in Europe and North America declined considerably in the two last weeks of November.
Total savings are expected to amount to about 1.1 billion kronor a year
The world's leading electric appliance maker, Electrolux, says it plans to cut 3,000 jobs worldwide, as it warned it would not meet its 2008 operating profit target due to declining demand.
The company said the job reductions will take place in the fourth quarter of 2008 and in 2009.
The company had about 57,000 employees at the end of 2007.
Electrolux said demand for appliances in Europe and North America declined considerably in the two last weeks of November.
Total savings are expected to amount to about 1.1 billion kronor a year
