Defense firm Saab to lay off 370 staff in Sweden

2009-06-02 09:19:04 -

STOCKHOLM (AP) - Swedish aerospace and defense company Saab AB on Tuesday said it will lay off 370 office staff at its Saab Bofors Dynamics unit in Sweden.
The company said staff in the central Swedish cities of Karlskoga, Eskilstuna and Linkoping, as well as in southwestern Goteborg will be affected by the layoffs.
The redundancies will

be implemented between 2009 and 2011 and are part of a long-term restructuring process, initiated as a result of declining orders from the Swedish armed forces, Saab said.
A restructuring charge of 200 million kronor ($26 million) will be included in the result for the fourth quarter 2009.
Saab Bofors Dynamics develops defense technologies for armies, navies and air forces and employed a total of 1,300 staff before the layoffs.
It is part of the Saab group, which has around 13,000 employees, but is no longer related to the car brand Saab. That was sold to General Motors Corp. in 2000.