Husqvarna announces new cost-cutting measures
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)
- Special Report: Thailand secretly supplies Myanmar refugees to trafficking rings |
- The 10 Most Corrupt and Least Corrupt Countries in the World
- NSA gathers data on cellphone locations globally: report
- China's airspace zone has caused apprehension: Biden |
- JPMorgan warns 465,000 card users on data loss after cyber attack