Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Anticipating the debate

Read more

EYE ON AFRICA

Abubakar Shekau says he is still leading Boko Haram

Read more

THE DEBATE

Peace at last? Colombia, FARC rebels sign historic peace accord (part 1)

Read more

THE DEBATE

Peace at last? Colombia, FARC rebels sign historic peace accord (part 2)

Read more

ENCORE!

Music show: Mykki Blanco, Van Morrison & The Weeknd’s duo with Daft Punk

Read more

FOCUS

FRANCE 24 exclusive: The last stand for Libya’s Oil Crescent

Read more

TALKING EUROPE

Greece’s minister of tourism: ‘Tourism is a government priority’

Read more

TALKING EUROPE

Terrorism, strike actions and migrant crisis: Is the EU becoming less attractive to tourists?

Read more

BUSINESS DAILY

Moody's cuts Turkey's credit rating to junk

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)