Husqvarna AB said it would cut around 850 jobs, corresponding to about 5% of Husqvarna's work force of 16,000 people. The company said it would lay off around 300 employees in Huskvarna, southern Sweden, and 550 more globally to save 300 million kronor (approx. US$45 million) a year. However, the initial cost for implementing the job cuts would also be around 300 million kronor ($45 million), Husqvarna said. The layoffs will be implemented after negotiations with the relevant labor unions in autumn and the 1Q 2009.
"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," it said in a statement.
The company has production and sales facilities in more than 100 countries.
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