Electrolux will eliminate 8% of 50,000 employees.
- Swedish appliance maker Electrolux AB is cutting 8% of its 50,000 North American workers due to a drop in demand.
- Electrolux’s third-quarter profits included 3,500 to 4,000 job losses to reduce costs. The firm, which produces cookers, hobs, microwave ovens, freezers, and dishwashers, will incur a restructuring charge of 1.2 billion to 1.5 billion kronor in the last three months of the year.
- Electrolux expects biggest cost savings in North America. The programme saved almost 7 billion kronor.
- “Regarding business region North America, I am clearly quite unhappy with our performance,” CEO Jonas Samuelson stated in the report.