Husqvarna to Cut 600 Jobs to Save Money

11/8/2012

Husqvarna has announced plans to cut about 600 jobs in a move that will save 220 million kronor ($33 million) a year by 2014.

Almost half the job losses will come in Sweden, mainly in Huskvarna, where the company is based. The cuts will be carried out during the first six months of next year after negotiations with unions, and will cost about 250 million kronor to implement, which will be charged to fourth-quarter operating income, the company said.

The company, with about 15,860 employees at the end of the third quarter, has about 40 percent of its sales in the Americas and said Oct. 26 that demand there and in Europe continued to be challenging during the third quarter.