Ford Cuts Volvo
More Job Losses Ahead for Auto Giant
Due to gas prices last quarter and poor performance from Volvo, Ford is cutting a little over 5% of Volvo’s workforce. The job cuts fall mainly in Sweden, with a small portion from Belguim.
The automaker will eliminate 1,470 positions, primarily in Sweden and Belgium, out of a total workforce of 27,500 people, Gothenburg, Sweden-based Volvo Cars said Monday.
"We have to reduce the number of employees we have in order to be more effective in the future," Christer Gustafsson, a Volvo spokesman, said in an interview. "We are reviewing all cost-driving areas within the company."
These cuts are not due to the auto giant’s earlier plans to reduce their workforce by 10,000 jobs by years end. Those cuts will be on top of these at Volvo.
Looks like Ford employees will have a very stressful holiday season.
See Also
- Volvo Cuts Loom Large
Ford Cuts Automakers Workforce by 5%