This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7823614.stm

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Swedish company sheds 1,000 jobs Swedish company sheds 1,000 jobs
(about 2 hours later)
Swedish engineering firm Alfa Laval says it is going to cut 1,000 jobs worldwide to save money. Swedish engineering firm Alfa Laval has said it is going to cut 1,000 jobs worldwide to save money.
The firm said that demand for its products and services is falling, particularly in Eastern Europe and Asia as the economic downturn hits. The firm said that demand for its products and services was falling, particularly in Eastern Europe and Asia, because of the economic downturn.
The company, which employs around 12,000 people, said that 300 of the positions being cut are in Sweden. The company, which employs about 12,000 people, said that 300 of the positions being cut were in Sweden.
Alfa Laval said the job cuts would save the company 400m Swedish crowns ($50m; £33m) annually.Alfa Laval said the job cuts would save the company 400m Swedish crowns ($50m; £33m) annually.
It said that customer orders totalled 6.2bn Swedish crowns in the fourth quarter, down 6% compared with the same period of 2007. The cuts are expected to be completed by June 2009, the firm said.
Alfa Laval said that customer orders had totalled 6.2bn Swedish crowns in the fourth quarter of 2008, down 6% compared with the same period in 2007.
Alfa Laval makes fluid-handling equipment, pumps and heat-transfer products and is one of a number of Swedish firms to have announced job losses recently.