Atlas Copco to cut 163 jobs as mining slump weighs


STOCKHOLM (Reuters) - Compressor and mining gear maker Atlas Copco (STO:ATCO A) said on Tuesday it was cutting capacity at its plant in Orebro, in central Sweden, in the face of continued weak demand from the mining industry.

The company said 163 jobs at the plant would be cut in what was the latest sign of how slashed spending plans by global mining companies such as Rio Tinto are putting pressure on equipment sales.

"The market for mining equipment continues to be weak, and we have to adjust capacity accordingly," Johan Halling, the group's new head of its mining and rock excavation business, said in a statement.

The company announced cuts of 160 jobs at its Orebro plant, which employs about 1,700, already last year.

(Reporting by Niklas Pollard)

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