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Print[Ferro-Alloys.com] Reportedly, Swedish SSAB announced to cut 450 jobs at its Swedish operations site in order to manage and adapt out an efficiency program to increase flexibility throughout its entire business operation.
Meanwhile, the company expects to complete the program by the end of the first quarter of 2013 to save money about SEK 800 million per year.
In the meantime, the layoff program will include the production personnel and affect approximately 200 employees in Borlänge, 150 in Oxelösund, and 100 in Luleå.
In addition, SSAB will also focus on the possibility of reducing work time for its Swedish operations with better financial performance for many years to come.
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