ShippingWatch

Alfa Laval to lay off 600 due to oil industry downturn

Swedish technology supplier Alfa Laval announces layoffs and major cost cutting measures due to the downturn in the oil and gas industry.

Photo: Finn Frandsen/Politiken/Ritzau Scanpix

Swedish industry group Alfa Laval plans to carry out cost cutting measures that include 600 employees being laid off primarily in Europe and North America.

The program will generate annual savings totaling SEK 300 million (USD 36 million) with full effect from mid-2022. The implementation is furthermore expected to result in restructuring costs of SEK 850 million, of which SEK 350 million constitute impairments of goodwill in oil and gas-related businesses.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Related articles

Latest news

Jobs

See all

See all