Brief: Kongsberg Automotive To Reduce Costs, Affecting 150 Jobs
03/07/2025 07:05
July 3 (Reuters) - Kongsberg Automotive ASA KOA.OL: KONGSBERG AUTOMOTIVE ANNOUNCES EUR 15 MILLION ANNUAL OVERHEAD COST REDUCTION INITIATIVE COST REDUCTION PLAN TO AFFECT ABOUT 150 POSITIONS MARKET FORECASTS FOR H2 2025 HAVE BEEN REVISED DOWNWARD MARKET FORECASTS FOR H2 CURRENTLY FALL BELOW COMPANY'S EARLIER EXPECTATIONS DUE TO ONGOING MARKET SOFTNESS IS ADJUSTING DIRECT LABOR LEVELS TO ALIGN WITH LOWER PRODUCTION VOLUMES MARKET SOFTNESS IN NORTH AMERICAN, EUROPEAN TRUCK SEGMENTS DRIVEN LARGELY BY US TARIFFS, BROADER GEOPOLITICAL TENSIONS Source text: ID:nWkr589PcR Further company coverage: KOA.OL (Gdansk Newsroom) ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))