Mar 7, 2015
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Volvo, the world's second-largest maker of trucks, reported a fall in annual profits in 2014 and announced 1,000 redundancies in its construction equipment business.
Volvo, the world's second-largest maker of trucks, reported a fall in annual profits in 2014 and announced 1,000 redundancies in its construction equipment business. The group reported a 30% drop in construction equipment deliveries towards the end of the year caused by falling demand from China. However, overall sales grew by 4% in 2014 to 282.94 billion kronor. The management stated that the company's cost-cutting measures - including the loss of 3,200 white collar workers since the end of 2013 - were ‘paying off’ and helped cut its net financial debt by 10 billion kronor in 2014.
English: http://www.thelocal.se/20150205/1000-job-cuts-at-swedens-volvo
For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.