Volvo to Cut Up to 3,000 Staff: Paper
By SIMON JOHNSON | Nov 12, 2014 09:25 AM EST
Swedish truck maker Volvo will cut around 3,000 staff as part of a savings plan to boost profitability, business daily Dagens Industri said on Tuesday.
The company, based in the southern city of Gothenburg, said in October it planned to make 3.5 billion Swedish crowns ($474 million) of structural cost cuts by the end of next year following an earlier savings package.
It did not say how many staff would be affected.
The new cuts will affect around 3,000 employees, many of them in Sweden, the paper said, citing unnamed sources.
Volvo could not immediately be reached for a comment.
The company has already cut 4,400 white collar jobs from its workforce of 110,000 while manual jobs have also been shed.
Most Popular
-
1
Hip-hop Mogul ‘Diddy’ Faces Fresh String of Lawsuit, Dismisses Sexual Assault Allegation as ‘Baseless’ -
2
Texas Judge Blocks Biden’s Overtime Pay Rule as Legal Challenges Being Weighed In -
3
“Trump or Biden?” Mark Cuban Letting ChatGPT Decide Based on a Debate Transcript Goes Viral -
4
Dallas-Fort Worth Ranks No. 1 in Job Creation, Leads in Recruiting for Financial Positions -
5
Stage Fright: How Real Is Workplace Anxiety and How Can We Beat It? -
6
Lower-Paid Salaried Maine Workers Prioritized as Biden's Overtime Pay Rule Takes Effect July 1 -
7
Kanye West Faces Bombshell Lawsuit Over Alleged Inhumane Treatment of Workers Mocked as 'New Slaves'