Electrolux Plans Global Layoffs
ST. CLOUD - Electrolux says it plans to cut global costs by about $770 million a year. They say they'll review staffing levels in all regions, however we don't know yet how that will affect the plant here in St. Cloud.
In a written statement to WJON news, they say it's expected the staff reductions will be made to the affected employees before the end of the year, but there will be minimal impact on North American operations. Details by location will not be released.
Electrolux says it has been "tangibly affected" by a decline in consumer confidence in Europe and North America, while increased costs for raw materials have also weighed on earnings.