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<blockquote data-quote="Weather Man" data-source="post: 16922550" data-attributes="member: 137766"><p><a href="http://www.benzinga.com/" target="_blank"><img src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AAS78Sb.img?w=36&h=36&q=60&m=6&f=png&u=t" alt="Benzinga" class="fr-fic fr-dii fr-draggable " style="" /></a></p><p><a href="http://www.benzinga.com/" target="_blank">Benzinga</a></p><p>Follow</p><h3>GM, Ford Supplier To Slash 8,000 Jobs In Cost-Cutting Efforts</h3><p>Story by Anan Ashraf • 5h ago</p><p></p><p><a href="https://www.msn.com/en-us/money/news/gm-ford-supplier-to-slash-8-000-jobs-in-cost-cutting-efforts/ar-AA1chhFp?ocid=msedgntp&cvid=0eb4b53d32c74c4c8bc2b0497e567a87&ei=14&fullscreen=true#image=1" target="_blank"></a></p><p><a href="https://www.msn.com/en-us/money/news/gm-ford-supplier-to-slash-8-000-jobs-in-cost-cutting-efforts/ar-AA1chhFp?ocid=msedgntp&cvid=0eb4b53d32c74c4c8bc2b0497e567a87&ei=14&fullscreen=true#image=1" target="_blank"><img src="https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1chlLP.img?w=768&h=422&m=6" alt="GM, Ford Supplier To Slash 8,000 Jobs In Cost-Cutting Efforts" class="fr-fic fr-dii fr-draggable " style="" /></a></p><p>GM, Ford Supplier To Slash 8,000 Jobs In Cost-Cutting Efforts© Provided by Benzinga</p><p>Automotive safety supplier <strong>Autoliv Inc</strong> (NYSE:ALV) said on Thursday that it will reduce both its direct and indirect workforce by about 11% in an attempt to cut costs.</p><p><strong>What Happened: </strong>Under the cost-cutting initiative, the company will cut about 6,000 direct positions and 2,000 indirect positions. About 1,000 indirect positions will be reduced solely in Europe wherein the company intends to close several sites.</p><p>The first headcount reductions will occur in 2023, the company said in a statement, while adding that the initiative will be completed by 2025.</p><p>“The headcount reduction will affect people based in our offices, technical centers, and plants, including leadership positions at all levels," said CEO <strong>Mikael Bratt</strong>.</p><p><strong>Why It Matters:</strong> Meanwhile, the company is continuing to negotiate with customers, which includes automakers <strong>Ford Motors</strong>, <strong>Volkswagen </strong>and <strong>General Motors</strong>, among other, on price increases.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16922550, member: 137766"] [URL='http://www.benzinga.com/'][IMG alt="Benzinga"]https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AAS78Sb.img?w=36&h=36&q=60&m=6&f=png&u=t[/IMG] Benzinga[/URL] Follow [HEADING=2]GM, Ford Supplier To Slash 8,000 Jobs In Cost-Cutting Efforts[/HEADING] Story by Anan Ashraf • 5h ago [URL='https://www.msn.com/en-us/money/news/gm-ford-supplier-to-slash-8-000-jobs-in-cost-cutting-efforts/ar-AA1chhFp?ocid=msedgntp&cvid=0eb4b53d32c74c4c8bc2b0497e567a87&ei=14&fullscreen=true#image=1'] [IMG alt="GM, Ford Supplier To Slash 8,000 Jobs In Cost-Cutting Efforts"]https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1chlLP.img?w=768&h=422&m=6[/IMG][/URL] GM, Ford Supplier To Slash 8,000 Jobs In Cost-Cutting Efforts© Provided by Benzinga Automotive safety supplier [B]Autoliv Inc[/B] (NYSE:ALV) said on Thursday that it will reduce both its direct and indirect workforce by about 11% in an attempt to cut costs. [B]What Happened: [/B]Under the cost-cutting initiative, the company will cut about 6,000 direct positions and 2,000 indirect positions. About 1,000 indirect positions will be reduced solely in Europe wherein the company intends to close several sites. The first headcount reductions will occur in 2023, the company said in a statement, while adding that the initiative will be completed by 2025. “The headcount reduction will affect people based in our offices, technical centers, and plants, including leadership positions at all levels," said CEO [B]Mikael Bratt[/B]. [B]Why It Matters:[/B] Meanwhile, the company is continuing to negotiate with customers, which includes automakers [B]Ford Motors[/B], [B]Volkswagen [/B]and [B]General Motors[/B], among other, on price increases. [/QUOTE]
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