GM, Ford Supplier To Slash 8,000 Jobs In Cost-Cutting Efforts
Portfolio Pulse from Anan Ashraf
Automotive safety supplier Autoliv Inc (NYSE:ALV) plans to cut 8,000 jobs, or 11% of its workforce, in a cost-cutting effort. The company will reduce 6,000 direct positions and 2,000 indirect positions, with 1,000 of the latter in Europe. The initiative will begin in 2023 and be completed by 2025.
June 08, 2023 | 7:52 am
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Autoliv Inc plans to cut 8,000 jobs in a cost-cutting effort, which may lead to short-term uncertainty but could improve long-term profitability.
The job cuts announcement may lead to short-term uncertainty for Autoliv's stock price as investors weigh the potential benefits of cost-cutting against the risks of reduced workforce capacity. However, the initiative could improve the company's long-term profitability by reducing expenses and streamlining operations.
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