GM, Ford Supplier Autoliv Advances Indirect Headcount Reductions
Portfolio Pulse from Shivani Kumaresan
Automotive safety systems provider Autoliv Inc plans to reduce an additional 300 indirect employees as part of its cost reduction framework. The downsizing includes employees in China, Japan, Sweden, and the U.S., and the closure of an office in the Netherlands. The company expects additional non-recurring charges in future quarters as it continues to advance its global headcount and structural cost reductions.
October 05, 2023 | 9:51 am
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Autoliv's decision to reduce its workforce and close an office in the Netherlands is part of its cost reduction strategy. This could potentially lead to short-term cost savings, but may also result in non-recurring charges in future quarters.
While the reduction in workforce and office closure could lead to cost savings in the short term, the company also expects non-recurring charges in future quarters. This could potentially impact the company's financial performance and thus its stock price. However, the exact impact is uncertain and will depend on the magnitude of the cost savings and non-recurring charges.
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