Volvo Aero

Type
Internal restructuring
Country
Sweden
Region
Södra Sverige;
Location of affected unit(s)
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
30 - Manufacture of other transport equipment
30 - Manufacture of other transport equipment
150 jobs
Number of planned job losses
Job loss
Announcement Date
19 May 2003
Employment effect (start)
Foreseen end date

Description

Volvo Aero will cut 150 jobs. The background of this decision is the ongoing decline in the international aviation industry. Volvo Aero has reported losses during the past three quarters (totalling SEK 119 M) and there are currently no signs of any turnaround in the aviation industry.

Sources

  • 19 May 2003: Press Release made by Volvo
  • 19 May 2003: Dagens Nyheter

Citation

Eurofound (2003), Volvo Aero, Internal restructuring in Sweden, factsheet number 59983, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59983.