Södra Cost Reduction Drive to Cut 260 Jobs

Södra, Sweden, reported this week that it will be making 260 people "redundant" as part of its drive to reduce the group's costs. The move is being taken, Södra says, "to face up to international competition at a time when the economic situation is poor and significant fluctuations in currency exchange rates have exacerbated the situation."

This measure will affect all Swedish business areas, and staff at all levels, the company notes, adding that trade union negotiations will begin immediately.

"Södra operates in an international market. Just like other companies, Södra is affected by the prevailing economic situation and trading conditions. The outlook for our main markets remains uncertain. To be able to face up to international competition, we have to undertake measures to reduce our costs," said Gunilla Saltin, acting CEO.

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