The article continues below the advertisement
Auto parts manufacturer Kongsberg Automotive announced on Monday that it will reduce the number of employees by between 150 and 200.
The company has approximately 5,500 employees in a total of 18 countries, and the downsizing is said to be global. In Norway there will be “a smaller number of man-years”.
In addition, Kongsberg Automotive will close its factory in Dortmund, Germany, effective January 1, 2024.
“This is a necessary step to restore Kongsberg Automotive’s profitability in challenging economic times worldwide,” said the message sent by the company on Monday.
The downsizing is one of the measures to reduce costs and improve the company’s competitive position, it is said. It is part of the company’s ongoing strategic review, which was announced in March 2023.
The article continues below the advertisement– These are challenging but necessary changes that we are making now to ensure and strengthen our long-term profitability and competitiveness, says interim director Linda Nyquist-Evenrud in the message.
In total, Kongsberg Automotive expects annual savings of 15 to 20 million euros in the coming year. This corresponds to between NOK 170 and 230 million at the current krona rate.
– We adapt to the market and implement these crucial cost optimization measures. These are concrete, necessary measures that we are taking to strengthen our competitive position in the long term and serve our customers in a satisfactory manner, says Nyquist-Evenrud.
The measures will not change the financial prospects for 2023, it is said. (Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases via links that lead directly to our pages. Copying or other use of all or part of the contents may only be made with written permission or as permitted by law. For further conditions see here.
Car with Embret: Tough car – with one big problem
DN has tested the iconic Ford Bronco all-terrain vehicle.
02:06
Published: 18.10.23 — 10:08
Kongsberg Automotive will reduce the number of employees by 150 to 200
World News,Next Big Thing in Public Knowledg
#Kongsberg #Automotive #reduce #number #employees
