Job Cuts in Forests and Flying
Hard times for workers at two of Sweden’s key industries as major job cuts were announced. Aerospace company Saab announced 300 are to go at its plant in Linköping, and forest industry giant Stora Enso announced that it was to shed up to 2,000.
Saab AB is one of Sweden’s key high-tech companies but says that it has faced a severe drop in demand for its products. It reported a loss for the first quarter of 2009 - over 40 million US dollars down on the same results for last year.
Stora Enso is a Finnish-Swedish company that is Europe’s leading paper and cardboard maker. So far it is unclear how many jobs are to go in Sweden.