SAAB cuts 750 jobs as new interest appears
March 13, 2009 by Matt Brogan
Saab today announced 750 job cuts as it tries to stay afloat but hastened to add that a group of Sweden-based investors is interested in buying the brand.
GM has already said it will ditch Saab by 2010 which in turn has led Saab to seek creditor protection. Now the Swedish firm is racing to restructure and find a new buyer.
“I cannot disclose who they are, but I can confirm that there is a group of investors in Sweden which has shown interest,” Saab spokesman Eric Geers said. “Saab is being courted by six to eight very large companies in total and has hired Deutsche Bank to look for even more potential bidders.”
Saab said on Thursday it had given notice to 750 employees at its Trollhattan plant, in south-west Sweden which consisted of 650 blue-collar and 100 white-collar positions.
No tags for this post.“These notices are a direct consequence of the recession and the global economic downturn,” Saab spokeswoman Annika Troedsson said.
Sorry for being a pessimist, but this is starting to sound an awful lot like Sweden version of Rover/MG
You know- we really shouldn’t be surprised by any of this…and with the economy going the way it is, things are only going to get worse…
You really got to feel for saab. Theyve been makin some gud lookin cars for a while and GM is stuffin them down the drain because they didnt put much effort into the company in the first place. Lets hope they get back to makin cars like they did back in the gud old dayts.
With seriously low volumes of sales – 94,000 worldwide – how can they stay in business?
Would you back them with your money now?
I actually feel sorry SAAB, even thought I never really loved the looks of any of their cars.
But before GM bought them up, they really had some unique and interesting cars.They are the only brand within GM that have a decent history of their own!
I tell you what, the only good things SAAB did for Holden were those cool pop out cup holders in the VZ Commodore and the SAAB dash dials and blackout system used in the VE! :-)
Anti-Spam word………Pontiac. How have they helped?…………hmmmmmm………………………….