BAE SYSTEMS ANNOUNCES RESTRUCTURING MEASURES IN SWEDEN

BAE SYSTEMS ANNOUNCES RESTRUCTURING MEASURES IN SWEDEN

15 Sep 2008 | Ref. 244/2008

KARLSKOGA, Sweden — BAE Systems AB, the company’s Swedish subsidiary, today notified the Swedish Public Employment Service of restructuring measures at BAE Systems Bofors, which may result in the redundancy of 80 employees.

The announcement is a result of a thorough review of the organisation, including its work processes, competencies and resources, which highlighted a need to restructure to better equip the company to meet the demands of the global defence market. While some areas may be reduced in numbers, the company will also be searching for employees to fill new positions in other areas.

“These restructuring efforts are necessary to ensure BAE Systems Bofors remains a world-class operation that continually exceeds our customer’s expectations in a competitive environment,” said Håkan Ahsberg, chief operating officer at BAE Systems Bofors.

BAE Systems will discuss these plans in detail with employees as soon as feasible. Where possible, every effort will be made to mitigate job losses through reassignment of employees within BAE Systems. To help employees seek suitable alternative employment, an outplacement support service will be established.

BAE Systems acquired Bofors in 2005. The company forms part of BAE Systems AB, together with BAE Systems Hägglunds and BAE Systems C-ITS. Sweden is one of six home markets in which BAE Systems has a major industrial or business presence.