Saab may have to cut jobs as part of a swift cost-cutting plan to be implemented before the end of the year.Victor Muller, CEO of the trouble Swedish firm, said Saab “had won a battle, but not the war” after it successfully appealed against a Swedish court ruling that had prevented it from bankruptcy protection against creditors. Read more about that story here.
Saab’s short-term restructuring plan will include streamlining its activities, simplifying its organisational structure and shortening lead times. The firm added “headcount reductions cannot be ruled out”.
The original court ruling had looked like scuppering crucial investment in Saab from Chinese firms Youngman and Pang Da, but these deals are now back on a final decision will be announced by Chinese authorities in November.
Saab has yet to confirm a date that it will restart production having not built a car since April.