CEO Dan Sten Olsson told the Dagens Industri daily that the positions would be lost at ferry operations and Stena Metall.

As part of the savings, administrative expenses will fall by 15% or SEK 300m.

Olsson said: “The economy is weak and no real recovery is in sight.”

The group’s ferry operations are facing increased bunker bills from new low-sulphur fuel rules entering into force on 1 January.

Stena