Alfa Laval axes 700 jobs

Sweden’s Alfa Laval has launched a SKr 1.5 billion cost-cutting programme and will axe 700 jobs worldwide.

The company is feeling the effects of the sharp downturn in the oil and gas industry, and in the shipbuilding industry. CEO Tom Erixon noted that shipbuilding has hit its lowest level in 30 years, but firmly believes that the business will recover: “There is a need to replace vessels,” he said.