Atlas Copco to cut another 3,000 jobs

Swedish air compressor manufacturer Atlas Copco announced yesterday that it is to cut 3,000 jobs worldwide.

The company, which has already made 1,350 redundant due to weak orders, blamed the global financial crisis.

Atlas Copco has 34,000 employees in about 20 countries, mostly in Sweden, Belgium, China, United States and Germany.

Around 1,000 of the jobs will go in Sweden. It is not clear where the other 2,000 will be cut.