Husqvarna announces new cost-cutting measures

STOCKHOLM Wed Nov 7, 2012 2:53am EST

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STOCKHOLM Nov 7 (Reuters) - Garden equipment maker Husqvarna said on Wednesday it would cut around 600 staff as it looks to offset flagging demand.

The company said new efficiency measures would reduce annual costs by 220 million crowns ($32.85 million) with full effect in 2014. The company will take a roughly 250 million crown charge in the fourth quarter.

Around half the redundancies will come in Sweden.

In October, the company announced t would focus on cutting costs as global economic uncertainty and sagging demand is seen stretching into next year. ($1 = 6.6978 Swedish crowns) (Reporting by Simon Johnson)

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