Oct 8th, 2008 by RJ Menezes
In light of the current sales slump, Swedish car maker Volvo has announced that they will be eliminating 3,300 jobs at the company. Most of the cuts will come in Sweden where 2,700 people will be let go. In addition, 600 workers outside Sweden and 700 contract workers will also be let go.
Volvo ha been experiencing a real down slump in terms of it’s sales numbers. In Europe, the company has dropped 11.7% in sales while the U.S. sales suffered more than twice that amount with a 25.8% drop. This has forced the Swedish manufacture to take notice, and this kind of advasive manuvure was expected.
Volvo CEO Stephen Odell said: “These are difficult times for the car industry in general, including Volvo. These actions are necessary to create a new and sustainable Volvo Car Corporation – a company with more focused operations and structure.”
Hopefully, this will be enough slack for Volvo to pick up it’s sleeves and get to work in becoming profitable again. Many manufactures are suffering right now, but it’s when niche companies like Volvo that start getting in trouble that things start getting grim…
-Source: Automotive News
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