Atlas Widens Job Cuts After New Orders Tumble on Mining, Autos (3000)

[Joanne98]

Feb. 2 (Bloomberg) -- Atlas Copco AB, the world’s biggest maker of air compressors, said it plans to cut 3,000 more jobs after new orders tumbled 18 percent in the fourth quarter. The company has already cut 1,350 jobs, it said.

Net income increased to 2.91 billion kronor ($348 million), from 1.38 billion kronor, a year earlier, Stockholm-based Atlas Copco said today in a statement. Analysts surveyed by Bloomberg predicted a profit of 2.26 billion kronor, according to the median of eight estimates.

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