Unions Critical of Volvo Deal
With a final agreement on China’s Geely buying Ford’s Swedish unit Volvo Cars expected this weekend, two key unions are concerned about the deal
Swedish Radio News reports that the white collar workers union Unionen and the executives’ union the Swedish Organization for Managers say they haven’t received all the necessary information.
Geely’s board chairman has said the deal would be a failure without the backing of labor organizations. The deal is expected to be finalised on Sunday.
But on Thursday the two unions withdrew their support. Representatives from the unions met with Ford on Friday and Saturday. Their discussions are reportedly about financing, investments, and future expansion in China.