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
750 jobs Number of planned job losses
Announcement Date
20 February 2013
Employment effect (start)
Foreseen end date
Description
Volvo Cars Cooperation, a Swedish car manufacturer, is downsizing its staff by 750 jobs in Sweden, in an effort to save 1.5 billion SEK. The reductions will be done primarily among consultants from temporary employments agencies, which constitute approximately half of the workforce today. Additionally, white-collar workers at the Volvo Cars headquarters in Gothenburg will be affected. According to the management, the layoffs will not affect blue-collar employees in production.
As of February 2013, there is no information about when the employment adjustments will come into effect or when they will be implemented by.
Sources
20 February 2013: The Wallstreet Journal
20 February 2013: Svenska Dagbladet
Citation
Eurofound (2013), Volvo Cars, Internal restructuring in Sweden, factsheet number 74947, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74947.
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