Volvo Cuts Jobs

Trade magazine Contract Journal is reporting that Volvo Construction Equipment is making 3,400 workers redundant following a 39% fall in the world plant market in the last quarter of 2008.

Last year the company built 64,000 units and increased net sales by 5% to £4.65bn but its third quarter sales dropped by 29% as demand dried up around the world.

Read the full story here.

6th Feb 2009

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