Electrolux To Layoff 3500-4000 Employees. In this story you will get all the details regarding this layoff. So follow please.

Electrolux, the largest manufacturer of home appliances in Europe with headquarters in Sweden,.....

r.....evealed significant losses in the third quarter, which they blamed on supply chain problems and a challenging market.

In addition, the corporation plans to eliminate 4,000 positions as part of a cost-cutting drive.

In contrast to the net profit of 1.1 billion Swedish kronor the previous year, the corporation reported a loss of at least 605 million Swedish kronor ($55 million). 

According to Chief Executive Jonas Samuelson, "market demand in both Europe and North America.....

......for the full-year of 2023 is predicted to significantly deteriorate, i.e. be negative year over year."

The corporation had previously made significant investments in North America, but supply chain problems and a lack of components have slowed down regional output.

According to the corporation, the majority of the desired cost savings will also be realized in this area, and 3,500 to 4,000 jobs would be lost as a result.

Only the North American division of the corporation recorded a deficit, totaling 1.2 billion kronor ($109 million). 

 They do, however, think that the company's North American cost-cutting and turnaround program should result in some positive results the following year.