Skanska reduces overhead costs
Skanska reduces overhead costs During the year, Skanska has continuously reviewed the Group's selling and administrative expenses, with the aim of adapting these costs to current market conditions. The costs of the cutbacks in 2003 have been continuously charged to the earnings of the business units where the actions have been taken. It is expected that the measures undertaken in 2003 will result in a 5 to 7 percent reduction of the Group's overhead costs for comparable units for full-year 2004. This corresponds to a cost reduction in the range of SEK 500 M. For the fourth quarter of 2003,