Ford-owned and up-for-sale Volvo Cars says it has agreed cost reduction measures - including a wage freeze - with unions which it hopes will avoid the need for further job cuts.
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Ford has said it expects operating savings of US$500m per year from an agreement with the UAW that will push hourly wage rates close to those of its foreign-based rivals with North American manufacturing plants.
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Saab today announced 750 job cuts as it tries to stay afloat and said that a group of Sweden-based investors was interested in buying the brand. General Motors has said it will shed loss-making Saab at the latest by 2010.
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Saab today announced 750 job cuts as it tries to stay afloat and said that a group of Sweden-based investors was interested in buying the brand. General Motors has said it will shed loss-making Saab at the latest by 2010.
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Saab today announced 750 job cuts as it tries to stay afloat and said that a group of Sweden-based investors was interested in buying the brand. General Motors has said it will shed loss-making Saab at the latest by 2010.
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Saab today announced 750 job cuts as it tries to stay afloat and said that a group of Sweden-based investors was interested in buying the brand. General Motors has said it will shed loss-making Saab at the latest by 2010.
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A strike at a one of its suppliers has forced PSA/Peugeot-Citroen to suspend production at its Sochaux factory in eastern France.
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Volkswagen today said its vehicle sales, revenue and earnings would all decline this year as a crisis in the auto industry continues.
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Volkswagen today said its vehicle sales, revenue and earnings would all decline this year as a crisis in the auto industry continues.
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AvtoVAZ has projected a 37% drop in its output this year to 590,000 cars and assembly kits.
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Saab has said it will lay off 750 of its 4,100 Swedish employees as part of its strategy to survive as an independent carmaker.
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BMW AG, the world's largest premium carmaker, said today its earnings plunged in the fourth quarter, making its 2008 results miss market expectations and sending its shares down nearly 12 percent.
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BMW AG, the world's largest premium carmaker, said today its earnings plunged in the fourth quarter, making its 2008 results miss market expectations and sending its shares down nearly 12 percent.
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Chrysler has warned that it may shutter its Canadian pants unless it gets sufficient concessions from labour unions as well as government aid and a tax change.
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Denso has said it will postpone construction, scheduled to start this spring, of an automotive air conditioner plant in Fukushima prefecture.
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Schaeffler has reached an interim financing agreement with creditor banks to secure its liquidity until the beginning of 2010, according to a report in the daily Die Welt.
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Audi's Hungarian unit plans to stop production for three weeks in August to save jobs in the face of falling demand.
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ZF Friedrichshafen is planning to extend short-time work.
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Delphi has announced that it is providing vital sensor technology for the next generation Volvo S60, planned for a mid-2010 debut.
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German trade unions have devised a plan for the rescue of financially troubled Schaeffler, the daily Berliner Zeitung has reported.
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