Volvo CEO Stephen Odell

Volvo To Lay Off Over 3000

The economic crisis hitting the world’s banks and money markets is once again dominating the headlines here in Sweden, with news of more Volvo layoffs and government money to shore up troubled Icelandic banks.

Ford-owned Volvo Cars are to once more lay off workers at their factories here in Sweden, this time round over 2700 workers are to go here, 2000 of those work on the factory floor and 700 are from management. The news comes just after previous cutback announcements over the past few weeks and has shocked local union bosses and politicians.

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