Swedish home appliance group Electrolux, which suffered significant losses in the third quarter, announced Friday a restructuring program that aims to cut 4,000 jobs worldwide, mainly in North America.
“Most of the targeted cost savings will be achieved in the North American business area,” Electrolux said in a statement, adding that “3,500 to 4,000 jobs (would) be affected,” or nearly 8% of the approximately 52,000 jobs created. the group has. all over the world.
Pressured by its exit from Russia after the war with Ukraine, and dwindling supply and demand problems, the Swedish household appliance group, Electrolux, suffered very significant losses in the third quarter, according to its financial report released today.
With a net loss of 605 million kronor (55.3 million euros), but a slight increase in turnover to 35.24 million kroner (an increase of 1.2% in one year), thanks to the price increases, the group managed to announced cost reduction program detailed .
In addition to the provision of 350 million kronor for Russia’s final withdrawal after the war in Ukraine, Electrolux suffered from a weak market environment which led to a significant increase in costs, especially in North America.
The presented results are worse than analysts expected.
Source: DN
