Swedish specialty steel producer SSAB has announced that it will cut 450 jobs at its Swedish operations. The measures constitute part of the previously announced efficiency program within SSAB EMEA.
SSAB EMEA is currently carrying out an efficiency program aimed at increasing flexibility throughout its entire business operation. The program has been accelerated and is expected to be fully completed towards the end of the first quarter of 2013. The annual cost savings are expected to amount to SEK 800 million.
The job cuts primarily cover production personnel and affect approximately 200 employees in Borlänge, 150 in Oxelösund, and 100 in Luleå. At the same time, SSAB is considering the possibility of reducing work time within its Swedish operations.