UPDATE 2-Scania cuts production, jobs in ailing European market


* To cut European output by 15 pct in Q1 * Says output cut affects 700 staff * Q4 operating profit 2.17 bln SEK vs forecast 2.48 bln * Q4 orders top forecast on Brazil demand * Shares down 1.3 pct, underperform sector (Adds analyst comment, detail, background) By Niklas Pollard and Helena Soderpalm STOCKHOLM, Jan 30 (Reuters) - Truck maker Scania is cutting production and jobs in Europe after ...

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