Volvo Slashes Construction Equipment Employees

Volvo AB subsidiary Volvo Construction Equipment (Volvo CE) today announced it will reduce its current workforce by 950 white and blue collar employees worldwide. The company said the action is being taken because of negative development in the manufacturer’s major markets. "We need to take these measures to adapt to the current market conditions and to increase our productivity at the same time,"

Volvo AB subsidiary Volvo Construction Equipment (Volvo CE) today announced it will reduce its current workforce by 950 white and blue collar employees worldwide. The company said the action is being taken because of negative development in the manufacturer’s major markets.

"We need to take these measures to adapt to the current market conditions and to increase our productivity at the same time," said Volvo CE president & CEO Tony Helsham.

Volvo CE will reduce its workforce in North America by around 140 employees, in Asia by 190, in South America by 20 and in Europe by 600, with about 390 cuts coming in Sweden.

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