Reportedly Ovako, Noth European engineering steel producer, has planned to reduce by 200 positions.
Notices of redundancy are 134 positions in Hofors and another 70 positions in Sweden and Finland.
Since the autumn of 2011, Ovako has planned to downsize its operation costs and improve efficiency.
By the middle of 2013, approximately 70 positions will be eliminated through rationalization.
Tom Erixon, President and CEO of Ovako said this adjustment is the strategy facing uncertainty before economic recovery and ensuring strength and effect in organization.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62016&division=A9
