Volvo

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(29 - 30) Manufacture for transport equipment
29.1 - Manufacture of motor vehicles
29.1 - Manufacture of motor vehicles
European Globalisation Fund (EGF)
Year: 2009, Case number: 7
3,300 jobs
Number of planned job losses
Job loss
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://apps.eurofound.europa.eu/restructuring-events/detail/67218.