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Volvo to add 10,000 staff: CEO

Volvo to add 10,000 staff: CEO

Published: 28 Nov 2011 08:22 GMT+01:00
Updated: 28 Nov 2011 08:22 GMT+01:00

Swedish automaker Volvo, owned by China's Zhejiang Geely, plans to hire a further 10,000 new staff in the coming years, its chief executive said in an interview to be published Monday.

Most of the new staff will be added in China.

"We will increase our staff to between 33,000 and 35,000 by 2020," Stefan Jacoby told Automotive News Europe magazine.

The company currently employs around 24,000 people worldwide -- around 16,000 in Sweden, 5,000 in Belgium and 1,000 in China as well as 2,000 in other countries.

Jacoby said Volvo aimed to sell 800,000 vehicles per year by 2020, one-quarter of them in China, now the world's biggest auto market.

In 2010, Volvo sold about 374,000 vehicles worldwide, with sales rising by 29 percent in northern Europe and 36 percent in China.

Geely bought Volvo from Ford last year.

While Sweden's other major car brand, Saab, continues its battle to escape bankruptcy, Volvo's announcement is a clear statement of intent.

The Local reported in October that Geely had approached Saab's reconstructor, lawyer Guy Lofalk to express an interest.

According to reports in the Dagens Nyheter daily, Geely has been watching Saab's struggles with interest, but has stayed cautious about entering the fray.

The firm refused however to confirm the reports and with Saab's bankruptcy protection set to be lifted in December the speculation has cooled off.

AFP/The Local (news@thelocal.se)

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Your comments about this article

19:24 November 28, 2011 by Abe L
Slowly moving the company to China and nobody is doing anything to stop it.
20:13 November 28, 2011 by swedejane
It's a chinese company...why wouldn't it move to China?
23:40 November 28, 2011 by seborga82
why? better to let the chinese run it instead of hiring criminals from muslim countries
11:42 November 29, 2011 by skogsbo
of course the staff will be employed in China and once they have the technology, the staff trained up and experienced, the Euro end will be thinned out massively.

If the chinese didn't bail it out it would be bust by now and nothing but an historic name.

China rules the world now, like it or not, it could bankrupt the US tomorrow as it's China that is buying the US Government bonds and those of other struggling nations and is likely to be buying many EU bonds too. It has the funds, the west is skint.
13:30 November 29, 2011 by salalah
Watch while they are moving ALL of the manufacturing to China. By year 2015 there will be 1 job left in Sweden - one of a receptionist taking phone calls and referring to the headquarters in China
16:25 November 29, 2011 by dibble
Hope there will always be Volvos built in Sweden. That is why people like me buy them. Safe, quality, reliable, long lasting cars. And hope that Geely allows Volvo to do it the Volvo way.
14:20 November 30, 2011 by imascatman
Hey, all you idiots that bitch all day about Chinese ownership. Are any of you even Swedish? Are any of you even non-American?
23:51 December 2, 2011 by Coalbanks
ALL manufacturing jobs are going to China unless business, labour & gov't. work to create a competetive manufacturing envirnment where jobs can be retained & workers retrained as necessary. Germany retains car manufacturing, expanding into production of equipment for alternate energy. Why them?
02:55 December 4, 2011 by Escort
Despite all this hype, I think the future for Volvo in its traditional markets of Europe and North America looks bleak. Other manufacturers make cars which are just as safe and durable, but often more desirable and cheaper too. Volvo buyers (and I am one) are moving upmarket to Audi, BMW, etc. and downmarket to VW, Ford, Honda, etc. Volvo is effectively being squeezed out of the market.

There is nothing special or distinctive about the cars Volvo is now making, so it is no surprise that customers are looking elsewhere. Unfortunately, the management and product planners have let the company down. Maybe Volvo has a future as an Asian brand, but it will ultimately fail as a mainstream player in Europe and North America unless a new direction can be found.
16:51 December 6, 2011 by Just_Kidding
to TheLocal: please specify which Volvo you mean in the title (Volvo cars or Volvo AB).
13:54 December 25, 2011 by Vee50
Volvo Designers in Sweden, Please Take Note: My Swedish colleague in Singapore told me that Volvo cars are very popular in Singapore and Hongkong with the expatriates working there but not too popular with the locals who are of Chinese descent because the locals think the tail lights of the S40, S80 etc look like traditional Chinese coffins. I searched the web for images and found that there indeed is a resemblance.
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