STOCKHOLM, Oct. 5, 2023 /PRNewswire/ -- Autoliv, Inc.
(NYSE: ALV) and (SSE: ALIVsdb), the worldwide leader in
automotive safety systems, today provides an update on its ongoing
initiatives to reduce its global headcount, including downsizings
of 300 indirect employees in China, Japan,
Sweden, the United States, and the closure of an
office in the Netherlands.
Autoliv continues to adapt and reduce its total workforce and
optimize its geographic footprint. On June
8, 2023, Autoliv announced its intention to reduce up to
2,000 indirect employees. On July 13,
2023, Autoliv detailed initiatives including intended
reductions of 1,100 indirect and direct employees. Today, the
Company announces an additional 300 indirect employees that
will leave Autoliv as part of the announced cost reduction
framework. The majority of these new reductions is expected to
leave the Company before year-end 2023.
The related accruals for the 300 indirect employees are expected
to be immaterial and will be accounted for in the third and fourth
quarters of 2023. Additional non-recurring charges are expected in
future quarters as Autoliv continues to advance its global
headcount and structural cost reductions.
Inquiries:
Media: Gabriella Etemad,
Tel +46 (70) 612 64 24
Investors & Analysts: Anders
Trapp, Tel +46 (0)8 587 206 71
Investors & Analysts: Henrik
Kaar, Tel +46 (0)8 587 206 14
The following files are available for download:
https://mb.cision.com/Main/751/3847812/2338966.pdf
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