The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.1 - Manufacture of motor vehicles
1,200 jobs Number of planned job losses
Announcement Date
25 June 2008
Employment effect (start)
1 September 2008
Foreseen end date
31 December 2008
Description
Car manufacturer Volvo PV has mounted an austerity package that includes job reductions for 1,200 employees mainly at its factories in Göteborg (Torslanda and Angered) and in Olofström. Currently the Torslanda plant has 4,763 employees and the Angered one has 190 employees with 1,849 at Olofström. The cuts will mainly take place at the factory in Torslanda (a suburb to Göteborg) and the plan is that the reductions will be finished by the end of 2008. Reasons given for the dismissals were the low dollar and rising prices for raw materials.
Sources
27 June 2008: Svenska Dagbladet
26 June 2008: Svenska Dagbladet
26 June 2008: Dagens Industri
Citation
Eurofound (2008), Volvo PV, Internal restructuring in Sweden, factsheet number 66782, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66782.
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