STOCKHOLM, Sweden, Nov. 28, 2005 (PRIMEZONE) -- The restructuring process and the trade union negotiations at Volvo Cars have now been completed. Of the 180 positions who were previously notified of redundancy, 40 will be given notice. In total Volvo Cars will reduce the number of jobs globally with 1,470.
In line with the company's previously stated commitment, Volvo Cars is implementing a cost-cutting programme to ensure its future long-term competitiveness.
The review has now been completed and the number of permanent employees in Sweden will be cut by a total of 720 people, as follows: - 40 white-collar employees in Gothenburg will be given notice. - Another 150 blue-collar and 140 white-collar employees will be offered early retirement programs in addition to the ca 150 blue-collar and 150 white-collar employees who already previously accepted the offer. 90 people are resigning from the company to pursue further studies.
In addition to the permanent jobs, 300 hired services and consultants will be reduced. The company will also cut by 450 the number of employees in its operations outside Sweden, primarily in the assembly plant in Belgium.
The Volvo Car Corporation has a total of about 27,500 employees; 19,500 in Sweden, of whom 13,500 are in the Gothenburg area.
For further information, please visit www.media.volvocars.com or contact Volvo Cars press officer Christer Gustafsson, tel. +46 31-59 65 25 (2005-11-28/Ch.G.)
This information was brought to you by Waymaker.
The following files are available for download:
http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=156744&fn=wkr0001.pdf
-0-