Electrolux Pushes On with Cost Cuts in Weak Europe
Swedish home appliances maker Electrolux sees market demand staying weak in Europe and will push ahead with cost and production cuts in the region.
The company’s view is more mixed on North America, where it sees market demand falling up to 1 percent this year — in contrast to the earlier forecast for demand to be flat or rise 2 percent — but where it expects a pick up in the near future.
“Europe is a pretty murky picture at the moment. It is hard to have good visibility on demand next year.