Truckmaker Scania said last friday it would introduce a four-day work week and related pay cut for 12,000 employees next month in its Swedish operations as it sought to adjust to a plunge in market demand.

Scania said in a statement the shorter working hours would last for a six-month period starting in June. The annoucement came after the main industrial union at the company earlier this month agreed to the measures as a way to stave off layoffs.

"Scania undertakes not to issue any lay-off notice during the period of the agreement," the company said.

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