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Electrolux Introduces More Cost-Reduction Measures; to Lay off Staff
Dec 15, 2008
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Electrolux said today it will lay off more than 3000 employees in 4Q 2008 and in 2009 and plans further layoffs in the future. The news came after the appliance OEM failed to reach its outlook for full-year 2008.

"Demand for appliances in Europe and North America declined considerably in the two last weeks of November," said an Electrolux statement. "The weak market has had a negative impact on Electrolux sales volumes and product mix during the fourth quarter. In December, demand for appliances in Europe and North America continues to show a sharp decline. As sales in December are seasonally low, there is a risk that operating income for the month will be slightly negative."

In addition to the layoffs, Electrolux said it will continue to move production capacity to low-cost countries in accordance with the company's restructuring program launched in 2004. The program, which will be completed in 2009 and 2010, will mean even more layoffs, the company said.

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