Reply #47: Update 1: Volvo Car to Slash Up to 1,500 Jobs [View All]

[54anickel]

http://www.forbes.com/business/businesstech/feeds/ap/2005/08/23/ap2188837.html

Volvo Car Corp. will slash between 1,000 and 1,500 jobs as part of an effort to cut costs by $131 million this year, a spokesman said Tuesday.

The automaker, which is owned by Ford Motor Co., has been hit hard by a weak dollar, rising raw materials prices and stiff competition in North America and Europe, Volvo spokesman Olle Axelsson said.

All of Volvo's operations will be affected by the cost-cutting package, but most of the job cuts will be at the car maker's facilities in Goteborg, in southwestern Sweden, Axelsson said.

bit more short blurb...