STOCKHOLM: Swedish industrial heavyweights Volvo trucks and Electrolux announced a total of 4,000 job cuts around the world yesterday when they published disappointing figures for the third quarter.
The Volvo Group employs 112,000 worldwide, including 16,000 consultants and temporary workers.
Home appliance maker Electrolux also announced a cost-reduction programme that would kick in during the fourth quarter of 2013 and mainly affect operations in Europe, the Middle East and Africa. “Approximately 2,000 employees are affected by these actions,” the company said in a statement.
AFP
