The Swedish Jude Group has announced that it has launched a restructuring plan that will continue into 2015. During this period, the company will cut 200 employees and integrate key business processes and functions with the scale of operations in the European region.
The total cost of the reorganization plan will reach 250 billion Swedish kronor (about 38 million U.S. dollars). The goal is to achieve the goal of saving 100 million kroner (about 15 million U.S. dollars) in costs by 2015. The company will integrate its key processes and functions, optimize the cost of sales and general administrative expenses, and restructure the business distribution in the European region.
According to Bo Annvik, president and CEO of Jude Group, “The optimization of the entire value chain process has enabled us to further streamline our business and management processes. We will continue to make business adjustments and increase efficiency. Promote product rationalization plans."
In the first quarter of 2013, the Jude Group's operating income fell by 11.4% from the same period last year to 951 million kronor (about 143 million U.S. dollars); operating profit decreased by 14% year-on-year to 5,500 kronor (about 8.27 million U.S. dollars). Operating profit margin fell from 6% in the same period last year to 5.8%.
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