Saab Considers Job Cuts, to Be Made by Year’s End
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The first significant move is the reduction of the workforce. According to Automotive News, the exact number of workers to be laid off is not yet known, nor is the amount of money Saab need to save through this process.
"All improvements should be implemented before year-end in order for Saab Automobile to have a new, competitive cost structure for the 2012 financial year," the company said in a statement. "As a result of this initiative headcount reductions cannot be ruled out."
This is a step in the right direction, but a painful one at that. A union representative says he doesn’t know anything about the job cuts.
Saab's chances "have increased quite drastically as they have the time now to reorganize and get possible funding from China," said Martin Crum, an analyst at Amsterdams Effectenkantoor BV.
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