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Electronics Production |
Kitron downsizing in Norway
Revenues continued to grow for Kitron during the first quarter, however, profitability was under pressure. In order to improve profitability, Kitron has reorganised the sourcing operations and will downsize the Arendal operations.
The Arendal operations in Norway will be downsized by 60-100 employees during 2014, compared to the level at year-end 2013. The reduction is a consequence of lower activity due to transfer of products and customers to other parts of Kitron as well as an expected decline in revenue in the offshore sector during the second half of 2014. In addition, the general cost base in Norway will be addressed.
Reorganisation of sourcing operations
The sourcing operations has been reorganised to accommodate cost savings in the organisation. The changes involve a reduction of the global sourcing staff and closer cooperation between the global and local sourcing activities.
