Despite signs of a recovery, Volvo, the Swedish carmaker owned by Ford, will still need to shed some 1,000 jobs, according to its CEO.
Go deeper with GlobalData
Speaking to the newspaper Dagens Industri, Fredrik Arp said the fourth quarter in particular would witness an improved performance by the company. “Then we will definitely beat the figures for 2005. We will see then the effects of product launches as well as increased market investments,” he said.
However, he added that Volvo needed to continue making efforts to operate with a smaller workforce. He suggested this could be achieved by pensioning off workers.
“We have to cut costs per produced unit and raise volumes at the same time. We will have fewer employees,” he said.
“In total, we could offer some form of pension solution to around 1,000 people,” he added.
Arp said first half volumes were down by 7%, impacted by a weak US market.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
