SWEDEN: Fresh blow for Saab as white-collar salaries stopped
Beleaguered Saab has announced it will temporarily not be able to pay its management staff due to a lack of funds from investors.
No further details are yet available but the news comes hard on the heels of Saab recently being temporarily unable to pay its employees' June wages.
The June arrears were settled when an unnamed Chinese company placed an order for 582 vehicles, but it appears the salary shortfall this time is being borne by management staff specifically.
"Swedish Automobile announces Saab Automobile has delayed payment of wages to its white-collar employees as some of the funds that were committed by investors were not paid in time to effect such salary payments," noted a brief statement from the automaker today (26 July).
"Saab Automobile is taking all necessary actions to collect these funds and continues discussions with various parties to obtain additional short-term funding so the payments can be made."
It is not yet clear how many staff are affected and to what level "white collar" refers, but the development heaps yet more problems on the embattled automaker, which is struggling to agree payment terms with its many suppliers.
Only yesterday (25 July), Sweden's debt enforcement agency, Kronofogden, revealed it had approved a total of eight Saab claimants - including three auto suppliers - to proceed further with the automaker's finances now being examined with a view to any repayment.
At the same time, there is still no news concerning any possible Chinese involvement from distributor Pang Da and manufacturer Youngman being approved by the Chinese authorities.
However, Saab confirmed to just-auto today it already had a team on the ground in China working with Pang Da.