Volvo to Cut Jobs
Volvo is looking to cut around 1,000 jobs along with job cuts that are already in the works. The information was relayed by Swedish television with unnamed sources providing the information. When asked about the cuts a Volvo spokesperson said that she had no comment regarding the television report.
Higher level employees are the ones likely to suffer from the new round of layoffs. Much like it’s parent company Ford, Volvo is looking to cut cost by closing down plants on specific shift hours. Volvo in fact already announced plans in June to cut 2,000 jobs and reduce plant hours. Volvo has also estimated that it would need to cut 900 more jobs next year.
I was actually surprised to learn that Ford was Volvo’s parent company. I wonder if another Jaguar deal might be in the works, do you recall when Ford sold Jaguar to an Indian company for a significant loss in recent years? Much of Volvo’s decline has been linked to poor sales.
