Skanska To Cut 6% Of Its Workforce

Skanska, one of the world's leading construction groups, has announced it will cut 3,400 jobs due to a weakening in the construction and residential development markets.

The group said it will cut 2,000 jobs in Sweden, 800 in Norway and 600 in Finland. The measures will affect administrative staff as well as personnel at project level.


Skanska employs 20,500 people in Nordic countries and 60,000 worldwide.

"I regret that this affects so many employees and their families. In the current situation, it is unfortunately necessary to adapt our organisation and our costs to a lower business volume in the Nordic construction markets," said Skanska's President and CEO Johan Karlström.

"At the same time, our review of all units within Skanska also shows that our geographic breadth and mix of operations contribute to alleviating the effect on the Group."

(CD/KMcA)