Job Market Monitor
Volvo
Volvo – To cut 450 jobs in Sweden
Truck maker Volvo’s construction equipment unit plans to cut 450 jobs in Sweden due to lagging profitability 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 … Continue reading
Volvo / To increase its job cuts to 4,400
World No.2 truck maker Volvo will increase its job cuts to 4,400, more than double its original plan, after currency effects and the cost of launching new models muted a rise in quarterly earnings. But Sweden’s biggest private sector employer also unveiled a stronger-than-expected order intake in the fourth quarter on growth in North America, … Continue reading
Volvo / To cut 2,000 jobs
Truckmaker Volvo is cutting 2,000 jobs after investments in new models and a rising Swedish kronor held back third-quarter profits Continue reading
Sweden / Manufacturers cut thousands of jobs
Two of Sweden’s manufacturing heavyweights unveiled plans to cut thousands of jobs Continue reading
Europe / Carmakers warn of more layoffs
European carmakers need to close more factories and cut more jobs, executives at the Frankfurt car show said on Tuesday, warning any recovery in demand was likely to be long and slow as unemployment remained high and bank lending weak. Continue reading
Volvo / 1,000 new layoffs for 2013
Volvo Car Corporation announced on Wednesday it would cut about 1,000 jobs and slash $237 million in costs by the end of this year. The Swedish automaker wants to reverse recent losses caused by weak sales in Europe. Volvo CEO Hakan Samuelsson told Swedish public television SVT that 1,000 consultants and white-collar workers would need … Continue reading
Volvo / New job cuts to come
Volvo AB, the world’s second-largest truckmaker, said fourth-quarter profit dropped 84 percent because of the cost of cutting jobs and reorganizing production in response to shrinking economies in Europe and the U.S. Earnings before interest and taxes fell to 1.12 billion kronor ($177 million) from 6.96 billion kronor a year earlier, Gothenburg, Sweden-based Volvo said … Continue reading
Sweden – Volvo Cars to Halt Production
Volvo Car Corp. Monday said it would halt production for a week from Oct. 29 at its plant in Torslanda, Sweden, in the latest response to shrinking demand from an auto maker. “The recession in Europe is deepening and that impacts customers’ willingness to buy new cars,” said Volvo spokesman Per-Ake Froberg. “Therefore we have … Continue reading
Volvo to axe 200-300 jobs
Swedish carmaker Volvo, owned by Chinese Zhejiang Geely, GEELY.UL is to cut production in Sweden about 10 percent and axe 200-300 jobs due to slower than expected sales, a union said on Thursday… via Volvo to cut car production by 10 percent: union | Business | Reuters.
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