The measures – which are estimated to cost 570 million kronor to implement – are the first phase of the restructuring measures Sandvik announced on May 20, the company writes in a press release.
The so-called one-time costs will affect the second quarter's results.
"Of the total cost, approximately 20 million kronor are non-cash flow affecting, while the remaining cost is mainly related to staff reductions of a total of approximately 350 employees," Sandvik writes.
Sandvik's share rises by 1.8 percent on the Stockholm stock exchange after the announcement and has thus increased by 7.2 percent since the turn of the year.
