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
European Globalisation Fund (EGF)
Year: 2009, Case number: 7
3,300 jobs Number of planned job losses
Announcement Date
8 October 2008
Employment effect (start)
Foreseen end date
Description
The Swedish car producer Volvo has announced 3,300 job cuts (i.e. more than 13% of the workforce) due to the decline of customer demands. The new restructuring plan involves 2,700 employees in Sweden and 600 in other countries. Volvo operates in 19 countries and the majority of employees are based in Sweden, France, Japan, the US, China, Brazil and South Korea. There is no information on when the restructuring is to be implemented by.
Sources
8 October 2008: Právo
Citation
Eurofound (2008), Volvo, Internal restructuring in World, factsheet number 67218, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67218.
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