Volvo AB will reduce 4 thousand employees worldwide

Volvo AB will reduce 4 thousand employees worldwide

June 18, 2020 0 By autotimesnews

Volvo AB truck and bus manufacturer plans to reduce 4.1 thousand employees worldwide in the second half of this year due to the coronavirus pandemic. 1,250 workers will be laid off in Sweden.

According to TASS, in the first quarter of 2020, Volvo AB announced a 2.2-fold reduction in net profit in annual terms – to 4.766 billion Swedish kronor. Volvo’s production sites in Sweden and Belgium, which suspended mid-March assembly of trucks against the backdrop of a pandemic, have gradually resumed operations since late April.

The Kaluga enterprise Volvo Group began work in mid-April 2020. The resumption of production accelerated the pace of delivery of finished products to customers. The entire dealer network of Volvo Trucks in the EU, with more than 1.1 thousand authorized service stations, including 74 located in our country, continues to operate normally.