Volvo to lay off 1,600 jobs in Europe
- March 17, 2023
- 0
Concern Volvo Group is leaving its factory in Poland and restructuring its European company for bus production. As reported by Ukrinform, this was reported by Reuters. “The decision
Concern Volvo Group is leaving its factory in Poland and restructuring its European company for bus production.
As reported by Ukrinform, this was reported by Reuters.
“The decision to cease bus production will affect around 1,600 positions at Volvo Buses, of which 1,500 are in Wroclaw, Poland,” the concern said.
He said Volvo Buses will change its business model in Europe to focus on chassis production while working with external companies for body production.
The sale of the bus body factory in Wrocław will result in a restructuring of SEK 1.3 billion (over US$123 million), which will affect Volvo’s operating income in the first quarter of 2023.
It has also been clarified that Volvo will retain more than 2,100 employees who will work in the support departments of Volvo Trucks, Volvo Construction Equipment and the group in Poland.
As reported by Ukrinform, American automaker Ford plans to cut 1,100 jobs at its plant in Valencia, Spain.
Source: Ukrinform
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