Business Services Industry
Swedish defence and aerospace group Saab AB cuts 43 jobs in North Carolina
Nordic Business Report, May 30, 2008
NORDIC BUSINESS REPORT-30 May 2008-Swedish defence and aerospace group Saab AB cuts 43 jobs in North Carolina(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish defence and aerospace group Saab AB (OMX Stockholm: SAAB B) said on Thursday (29 May) that its US subsidiary Saab Barracuda LLC is shedding 43 jobs at its operations in Lillington, North Carolina.
"The restructuring is necessary to match current market demands, and the decision to give notice to 43 employees comes after a comprehensive review of the company's operations. The employees affected will be offered transition support services," Saab said.
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Saab Barracuda manufactures camouflage systems and heat reducing products for the US Department of Defence, and has some 350 employees.
Saab, headquartered in Stockholm, Sweden, is a global high-tech group providing products, services and solutions from military defence to civil security. The group has 13,700 employees worldwide and annual sales of SEK23bn.
One British pound (GBP) is worth approximately 11.70 Swedish kronor (SEK).
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