Volvo Group to Cut More than 1,500 Jobs in Sweden

April 22, 2009

Declining market for heavy vehicles

Sweden's struggling Volvo Group, which has announced thousands of layoffs in recent months, said on April 22 it would slash another 1,543 jobs in Sweden, most of them in its Volvo Trucks unit.

"As a result of the sharp decline on world markets for heavy vehicles, the Volvo Group is being forced to implement new personnel reductions within its Swedish operations," it said.

"A total of 1,543 employees are affected when Volvo Trucks, Volvo Construction Equipment, Volvo Penta and Volvo Powertrain today announced new layoffs," it added.

The company has in recent months announced 5,800 job cuts.

Volvo Group has earlier said that during 2008 and 2009 a total of 16,255 permanent and temporary employees and consultants were to leave the group.

At the end of 2008, Volvo Group had 101,381 employees.

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