Saab serves notice in Linköping
As a result of continued streamlining measures and synergies within the Aeronautics business area, the defence and security company Saab is to serve notice to 115 factory employees at Saab AB in Linköping.
The reason for this notice is that profitability within Aeronautics for both commercial and military activities has been low during 2008 and up to quarter 3 last year, compared with historical levels, thus calling for further streamlining measures. The notice affects aviation related operations in Linköping and applies to the Aeronautics and Support and Services business areas, which are part of the same selection category. Information about the notice has been submitted to the Swedish Public Employment Service. Negotiations with the trade unions will begin shortly. "We are constantly reviewing operations in order to increase profitability and be a competitive company. It is regrettable that we now have to let employees go, but unfortunately it is unavoidable," says Lennart Sindahl, business area manager for Aeronautics at Saab. Saab's ability to supply high-tech products to the civil and military aviation industry will not be negatively affected by this. The structural costs are calculated at approximately SEK 30 million, the majority of which will be recorded during 2010. Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers’ changing needs. For further information, please contact: Saabs presscenter, +46 (0)734 180 018 www.saabgroup.com The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on January 19 at 08.30