Sandvik AB (publ) (SANDN.MX)

Sandvik to cut 1,100 jobs as Q4 profit lags expectations

STOCKHOLM (Reuters) -Sandvik plans to cut around 1,100 jobs as part of a cost-saving drive, the Swedish mining equipment maker said on Thursday, as it reported adjusted fourth-quarter profits just below expectations. The company said orders with major mining companies were at a good level, but that it had seen a slowdown from smaller miners and softness in infrastructure markets. It also said shipping disruption in the Red Sea was leading to some delays in larger mining equipment, but that it was manageable.