SWEDEN: Volvo Cars to shed 1,000 jobs
"You have to adjust to reality," Haakan Samuelsson said in an interview, cited by news agency AFP.
A spokesman for the company, Per-Aake Froeberg, told Swedish radio that "by the end of the year, there will be 1,000 fewer of us."
The company axed 1,100 positions last year, most of which were in its assembly plants. By contrast, most of those affected by Wednesday's announcement would be white collar workers, SVT said.
Volvo Cars said in September it employed 22,400 people.
The troubled car maker will soon launch a SKR1.5bn (EUR178m or US$239m) cost cutting drive, after sales dipped 18% in January, the Swedish broadcaster wrote on its website.
The Gothenburg-based company sold 422,000 cars in 2012, which was 6% fewer than the year before. The European market was especially tough, dipping by 10%.
Geely acquired Volvo Cars in 2010 and the brand has since seen its market share decline and profits dwindle.
Despite strong developing competition, Volvo continues to lead in the car safety technologies. Continued work on the improvement of quality and reliability, and above all the safety of users makes the...
The media days for the 2013 Frankfurt Internationale Automobil-Ausstellung (IAA) are 10 & 11 September. Each of the following vehicles is a world premiere at the show....
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Zhejiang Geely says that it will supply some 500 London Taxi TX4s to the municipal authority in Nanjing....
Datamonitor's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organ...
Volvo Cars saw global sales rise 14% in July to 33,650 compared to the same month last year on the back of strong growth in China and a healthy performance in Europe....
Truck Manufacturing in Belgium industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016)...
- INTERVIEW: Ford of Europe's chief, Stephen Odell
- Jaguar Land Rover's lightweight future
- GENEVA WRAP: Europe still struggles, future bright
- THE WEEK THAT WAS: iOS (and Android) in the car
- INTERVIEW: Ford UK fleet director, Phil Hollins
- 'One Ford' has kept us alive in Europe
- EXCLUSIVE: Renault axes another EV
- GENEVA: Jaguar names 'small' saloon XE
- Ukraine crisis sparks Russia 'downward pressures'
- Jaguar recruits Beckham as China brand ambassador
- Tesla: The Californian start-up that made head way on the automotive giants
- Dacia: The no frills automotive brand, that is becoming a serious world contender
- China’s One-Child Policy is Shaping a New Automotive Landscape
- PLDB - vehicle cycle plan database (annual subscription)
- Global light vehicle HVAC market 2008 to 2028