Volvo Bus de Mexico reduces workforce after a successful product launch

Volvo Bus de Mexico reduces workforce after a successful product launch Volvo Bus de Mexico is announcing a reduction of the workforce by 900 persons. The reason is that a significant order was taken in 1999 consisting of 900 Volvo buses, for which deliveries are about to be finalised. The production capacity will therefore at this stage be adapted to the current market conditions affected by the downturn in the Mexican economy. Volvo Bus de Mexico has today approximately 2,550 employees. The planned reduction of 900 persons is due to the balancing of current production levels following the final deliveries of the order to leading groups of intercity operators in Mexico. The reduction will take place during the first half of September. Volvo Buses has made a very successful and fast introduction of Volvo products in the Mexican market. The new 7550 Volvo coach has good performance and has been well received in the market by the customers. The production of the Volvo coach will continue but at an adjusted level. September 4, 2001 For more information please contact: Heléne Mellquist, Head of Corporate Communication Volvo Bus Corporation Tel: +46 31 66 12 06 Fax: +46 31 66 72 88 E-mail: info.buses@volvo.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/04/20010904BIT00050/bit0001.doc http://www.waymaker.net/bitonline/2001/09/04/20010904BIT00050/bit0001.pdf