INDUSTRY

Sandvik cuts 500 staff

Almost 300 employees in Sweden at the mining, construction and technology companies of Sandvik are set to lose their jobs in a global sweep of staff numbers which will reduce the workforce by 500.

Sandvik Materials Technology writes that the company aims to reduce costs by 500 million kronor in the next two to three years, reports news bureau TT. About 70 of the job losses are at the sister company Sandvik Mining and Construction.

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