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Electrolux specifies overhead cost savings
Tuesday, 20 December 2011
White good company, Electrolux has said that, as communicated at the Capital Markets Day in November, it will be reducing overhead costs in all regions.

Savings from these measures will amount to SEK 680 million annually and incur a cost of SEK 630 million, according to a press release from the company.

Activities to reduce staffing levels in all regions were initiated in the fourth quarter of 2011 and will continue in the beginning of 2012.

“Total non-recurring costs for these measures of approximately SEK 630 million will be charged against operating income in the fourth quarter of 2011. Savings are expected to amount to approximately SEK 680 million on a yearly basis, and the saving activities will be fully implemented in 2012. The annual savings are about SEK 180 million higher than previously estimated and communicated at the Capital Markets Day in November, while costs are about SEK 130 million higher,” writes Eletroluc in a press release.
By Scancomark.se Team

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