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Volvo – To cut 450 jobs in Sweden

Truck maker Volvo’s construction equipment unit plans to cut 450 jobs in Sweden due to lagging Capture d’écran 2014-03-20 à 13.38.48profitability and an unfavourable product mix, its European head of production said on Thursday.

Jorgen Svenningsson said the company hoped to be able to solve the issue on a voluntary basis and that none of the employees had been given notice. He made the comments after local media reported the unit was looking to cut 165 staff.

“We need to do this due to the need for productivity improvements,” Svenningsson told Reuters.

via Volvo CE says to cut 450 jobs in Sweden | Reuters.

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