ECONOMY

Saab Announces Job Cuts

Defence industry concern Saab is shedding 70 jobs at one of its plants in Sweden.

The job losses at Saab Bofors Dynamics in Karlskrona come as a result of falling sales.

"Despite having received several important orders during the current recession, our order volumes have decreased. We are therefore forced to implement these measures," said Tomas Samuelsson, who heads Saab Bofors Dynamics AB.

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