As communicated at the Capital Markets Day in November, Electrolux is reducing overhead costs in all regions. Savings from these measures will amount to SEK 680 million annually and incur a cost of SEK 630 million.
Activities to reduce staffing levels in all regions were initiated in the fourth quarter of 2011 and will continue in the beginning of 2012.
Total non-recurring costs for these measures of approximately SEK 630 million will be charged against operating income in the fourth quarter of 2011. Savings are expected to amount to approximately SEK 680 million on a yearly basis, and the saving activities will be fully implemented in 2012. The annual savings are about SEK 180 million higher than previously estimated and communicated at the Capital Markets Day in November, while costs are about SEK 130 million higher.
For further information
Contact Electrolux Press Hotline, +46 8 657 65 07.
Electrolux discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.30 CET on December 20, 2011.
