stockholmelectrolux ab said friday that the groupwide cost reduction and north america turnaround program it launched during the quarter aims to cut over 7 billion swedish kronor 6381 million in costs with 35004000 jobs affected the swedish homeappliance manufacturer said last month it was launching a program as demand in europe and the us fell sharply the program is expected to boost yearonyear earnings by sek4 billionsek5 billion in 2023 while a restructuring charge in the fourth quarter of 2022 is seen at sek12 billionsek15 billion it said we are also reviewing our production capacity needs given current market situation chief executive jonas samuelson said electrolux posted a thirdquarter net loss of sek605 million compared with a profit of sek114 billion a year earlier analysts polled by factset had expected a net loss of sek14 million on sales of sek3252 billion electrolux backed its fullyear market outlook and now forecasts a hit from rawmaterial costs trade tariffs currency and labor cost inflation this year of sek8 billionsek9 billion from sek8 billionsek10 billion the company expects 2023 shipments of core appliances to be negative yearonyear in europe and north america