Sweden's Husqvarna to cut more costs, jobs due to weak consumer spending (updated)

Husqvarna AB

23/10/2024 06:23

(Adds detail on cost cuts, quote in paragraphs 1 and 2)
       COPENHAGEN, Oct 23 (Reuters) - 
    Sweden's Husqvarna  HUSQb.ST  said on Wednesday it was
initiating new cost cuts that will impact around 400 jobs across
the group, and result in savings of around 500 million crowns
($47.43 million) annually, citing constrained consumer spending.
    "To address the challenging market, we are reducing fixed
costs and continuing to invest in our long-term strategy to
strengthen Husqvarna Group's competitiveness," CEO of the garden
equipment and tools maker, Pavel Hajman, said in a statement. 
    
($1 = 10.5419 Swedish crowns)

 (Reporting by Louise Breusch Rasmussen, editing by Stine
Jacobsen)
 ((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))