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Business

Volvo to cut over 1,500 jobs in Sweden

Latest update : 2009-04-22

Auto-maker Volvo Group has announced that, amid difficulties in the sector, it plans to cut some 1,543 more jobs in Sweden. The company plans to have reduced its workforce by a total 16,255 jobs during 2008 and 2009.

AFP - Sweden's struggling Volvo Group, which has announced thousands of layoffs in recent months, said Wednesday it would slash another 1,543 jobs in Sweden, most of them in its Volvo Trucks unit.
  
"As a result of the sharp decline on world markets for heavy vehicles, the Volvo Group is being forced to implement new personnel reductions within its Swedish operations," it said in a statement.
  
"A total of 1,543 employees are affected when Volvo Trucks, Volvo Construction Equipment, Volvo Penta and Volvo Powertrain today announced new layoffs," it added.
  
The company has in recent months announced 5,800 job cuts.
  
Volvo Group has earlier said that during 2008 and 2009 a total of 16,255 permanent and temporary employees and consultants were to leave the group.
  
At the end of 2008, Volvo Group had 101,381 employees.

Date created : 2009-04-22

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