The world’s largest manufacturer of seat belts and airbags is cutting a total of 8,000 jobs, or about 11 percent of the entire workforce, due to increased costs. Around 6,000 jobs were lost in production, and up to 2,000 jobs would be cut in indirect areas, the company announced on Thursday. As a result, several locations in Europe would be closed. The job cuts are to be implemented by 2025. “We want to simplify and consolidate the way we work in all areas,” says CEO Mikael Bratt (56).
At the beginning of the year, Autoliv declared that the cost pressure was greater than it had been in decades and that they were trying to find a way out. To this end, the company is negotiating with its customers in order to pass on the increased costs. Autoliv counts numerous large car manufacturers among its customers.