LKAB to cut 400 jobs in cost-cutting spree driven by iron ore price crash

Swedish iron ore producer LKAB will cut 400 jobs as falling iron ore prices have prompted a wider cost-cutting spree, it said on Friday February 13.

LKAB is implementing a number of measures to deal with the low iron ore pricing environment, which also sent its fourth quarter and full-year 2014 operating profits plummeting

Alongside continued efforts to reduce the amount of tied-up working capital, the company is targeting a further Skr700 million ($83 million) in cost reductions, ceo Lars-Eric Aaro said...


Nina Nasman

February 13, 2015

18:35 GMT