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| Husqvarna plans personnel cutbacks Swedish garden and construction tools maker Husqvarna said its operating income for the third quarter will be substantially lower than in the previous year. The decline refers primarily to consumer products for the mass market channels in North America and Europe, as well as to products for the construction industry within Professional products. Due to seasonal effects in Husqvarna operations, the third quarter accounts for a small share of sales and operating income for the full year. Seasonal variations can therefore have a considerable effect on income for this quarter. Operating income for the third quarter of 2008 is expected to amount to approximately SEK 300m. Husqvarna plans to improve its operational efficiency by reducing the number of its personnel. The measures are estimated to involve a total reduction of approximately 850 in the number of employees, of which approximately 300 in Huskvarna, and will generate annual savings of approximately SEK 300m. The cost of these measures is estimated at approximately SEK 300m. write your comments about the article :: © 2008 Construction News :: home page |