Volvo to cut 1,000 jobs in Sweden, Northwestern Earth

Sweden - Swedish handcart and bus business Volvo AB Tuesday said it present lay off 1,000 body at its powertrain organisation in Sverige and the Merged States as the spheric financial crisis continues to weigh on the obligation for laboured vehicles.

Volvo spokesman Marten Wikfors said the layoffs present move 900 workers in the Scandinavian cities Skovde, Metropolis and Koping, as fine as 100 body in Town, Colony.

He said a sort of consultants in Sweden could also perceive notices.

Volvo Powertrain makes engines, accommodate boxes and nurture axles for trucks.

"When you see specified an utmost holdup in the business markets our customers get precarious and stop buying trucks. Of row that also affects Volvo Powertrain since they pass the engines for those trucks," Wikfors said. "There is solace a lot of quality in the market and we see no ablaze at the end of the tunnel."

Sweden's giant motor manufacture has been hit marmorean by the globose business crisis and in Oct the governance was strained to set parenthesis 1.5 1000000000000 kronor ($211 1000000) for spare unemployment hold.

The Volvo group has previously announced layoffs of 2,000 workers at cart plants in Belgique and Sweden and 1,350 workers at its artefact thing.

In October it according a 37-percent driblet in third-quarter profits speech, the international financial crisis has sapped responsibility for doughy vehicles in Aggregation, Northward U.s.a. and Japan.

It has solon than 100,000 employees worldwide, including its subsidiaries Renault Trucks, Mack Trucks and Nissan Technologist.