Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Hiroshima's Healing Hug

Read more

EYE ON AFRICA

Uganda Terror Trial: Five jailed for life for 2010 Al-Shabaab World Cup Bombings

Read more

THE WORLD THIS WEEK

Obama in Hiroshima and Austria's close call (part 1)

Read more

THE WORLD THIS WEEK

French labour strikes, raids on Google and McDonald's (part 2)

Read more

REPORTERS

Ukraine: Searching for missing people in Donbass

Read more

REVISITED

Video: What remains of the Gezi movement in Turkey?

Read more

FRANCE IN FOCUS

Euro 2016: France readies for kick off

Read more

ENCORE!

Anne A-R : The people beyond the numbers: A photographic manifesto from the migrant trail

Read more

ENCORE!

Video: Ken Loach wins his second Palme d'Or in Cannes

Read more

Volvo to axe 2,000 jobs worldwide

Latest update : 2008-06-25

Swedish car maker Volvo, part of the Ford group, has announced a 2,000 job cut worldwide. More than half of the cuts will be in Sweden.

Swedish car maker Volvo, a unit of US auto giant Ford, said on Wednesday it planned to cut 2,000 jobs worldwide, most of them in Sweden.
  
"As part of an extensive cost reduction programme, Volvo is planning to reduce its workforce by 1,400 white collar (consultants included) and 600 blue collar members of its workforce," Volvo Cars said in a statement.
  
The group said a weak US dollar and rising raw material costs had led to a a loss in the first quarter of the year of 151 million dollars (97 million euros).
  
"In order to improve the business, Volvo Cars is implementing a cost reduction programme which is estimated to reduce the total cost level by 4 billion Swedish kronor (700 million dollars)," the statement added.
  
A total of 1,200 jobs are to be cut in Sweden.

Date created : 2008-06-25

COMMENT(S)