Husqvarna issues warning of Q4 net loss

12/19/2008 | Reuters

Sweden's Husqvarna issued a warning that the garden tools manufacturer will post a net loss for the fourth quarter. The company said the decline is a result of lower sales because of the weak economy, and it plans to cut 960 jobs from its work force of around 16,000. "Demand is weaker overall, we have big customers saying they don't want deliveries until after this year's end," said Asa Stenquist, a Husqvarna spokeswoman.

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