By P.R. Venkat
SINGAPORE--Singapore Technologies Engineering Ltd. (S63.SG) said
Friday it will likely cut 300 jobs at its Scandinavian operations
as part of a restructuring exercise.
The company said in a filing to the Singapore Exchange it is
undertaking a restructuring of its unit ST Aerospace Solutions
(Europe) A/S to help it cope with challenges arising from weak
domestic travel and cargo demand.
"ST Aerospace needs to take steps to manage its cost structure
and work processes in order to maintain its position in the
European market," the statement said.
As part of the restructuring, the European unit will streamline
workflow at its three facilities in Copenhagen, Oslo and Stockholm.
The restructuring exercise is expected to be completed by the third
quarter of 2013.
ST Aerospace Solutions is involved in aircraft-component repair,
management and logistics services. ST Engineering said it remains
committed to its presence in Europe.
The Singaporean company said its European unit is working with
trade unions and employee representatives to offer outplacement
programs to affected workers.
Write to P.R. Venkat at venkat.pr@dowjones.com
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