Saab Bofors Underwater Systems AB in Motala, Sweden, to lay off 100 employees

Saab Bofors Underwater Systems AB in Motala, Sweden, to lay off 100
employees

After the decision of the board of directors of Saab Bofors Underwater
Systems AB, the company today notified the County Labour Board of a lay-
off affecting 100 persons, of which 50 are workers and 50 are salaried
employees. Negotiations with union organizations will be initiated
immediately.

The decision is based on surplus capacity and weakened profitability.
The company is also facing a changed market situation, with operations
now focused more on providing high-tech service with capacity to handle
smaller series production and demonstrators.

- The decline in new orders will affect the company when the current
orders for heavy torpedoes are completed, which is why this lay-off is
necessary. It is an unfortunate situation, of course, explains Mikael
Grodzinsky, president of Saab Bofors Underwater Systems AB.

- We are doing our best at the company to alleviate the circumstances
for the employees affected by the lay-off, concludes Mikael Grodzinsky.

Saab is one of the world's leading high-technology companies, with its
main operations focusing on defence, aviation and space. The Group
covers a broad spectrum of competence and capability in systems
integration.

For further information, please contact:
Mikael Grodzinsky, President, Saab Bofors Underwater Systems AB
Tel.: +46 (0)141-22 45 10, +46 (0)73-668 2600

Katarina Tolgfors, Director Communications & Public Affairs,
Saab Bofors Dynamics AB,
Tel.: +46 (0)586-811 57, +46 (0)73-668 11 57

www.saab.se

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