Auto safety equipment maker Autoliv cuts up to 8,000 jobs
Autoliv Inc. (ALIV-SDB.SK) stock is up 1.3% on Thursday after the auto safety equipment maker said it plans to lay off about 11% or up to 8,000 of its direct and indirect work force in an effort to contain costs. Starting this year and concluding by 2025, Autoliv will trim up to 6,000 jobs in its global direct headcount. It will also cut about 2,000 people in its indirect work force, including 1,000 people in Europe. "We intend to simplify and consolidate how we operate in all areas," CEO Mikael Bratt said in a statement. "The headcount reduction will affect people based in our offices, technical centers, and plants, including leadership positions at all levels."
-Steve Gelsi
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
06-08-23 1026ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing