Global Layoffs at Electrolux
STOCKHOLM (AP) — The Swedish appliance maker Electrolux said on Monday that it would lay off more than 3,000 staff globally because of a slump in the market.
An Electrolux spokesman, Anders Edholm, said the layoffs represent about 5 percent of the company’s total work force of 57,000.
Mr. Edholm said demand in Europe and North America has been declining for some time and fell sharply in the second half of November and in December.
As a result, Electrolux will not reach its previous forecast of an operating profit for the year of 3.3 billion kronor to 3.9 billion kronor ($411 million to $486 million).
The layoffs will come in the fourth quarter of this year and in 2009.
An Electrolux spokesman, Anders Edholm, said the layoffs represent about 5 percent of the company’s total work force of 57,000.
Mr. Edholm said demand in Europe and North America has been declining for some time and fell sharply in the second half of November and in December.
As a result, Electrolux will not reach its previous forecast of an operating profit for the year of 3.3 billion kronor to 3.9 billion kronor ($411 million to $486 million).
The layoffs will come in the fourth quarter of this year and in 2009.
Labels: Electrolux, layoffs, Sweden
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