Type
Internal restructuring
Country
Sweden
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture For Transport Equipment
Manufacture Of Motor Vehicles, Trailers And Semi-Trailers
29.1 - Manufacture of motor vehicles

300 - 400 jobs
Number of planned job losses
Job loss
Announcement Date
26 May 2005
Employment effect (start)
Foreseen end date
31 December 2005

Description

The staff at Volvo will be reduced by 300 to 400 jobs in 2005 as a result of the hiring freeze which has been decided by the company. This decision, which is part of a rationalisation and saving plan, could be compensated by the company's plan to set up a third shift at Torlanda, which could lead to the creation of up to 500 jobs.


Sources

  • 26 May 2005: Sveriges Television
  • 26 May 2005: Dagens Industri

Citation

Eurofound (2005), Volvo, Internal restructuring in Sweden, factsheet number 61801, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61801.