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GKN to cut down 350 jobs in Trollhättan near Gothenburg as competition pressures

GKN Aerospace in Trollhättan, former Volvo Aero, will reduce its workforce by 350 people. The reduction will be achieved through natural attrition, according to media reports.

"We have received information during the day, it's not a good atmosphere in the factory now," Mats Eriksson, who is the chairperson of the IF Metall at GKN told radio Sweden.

The company announced on Friday morning that it would cut its workforce in its operation in the area. This comes as it is understood that management needs to cut costs and says that there might be a surplus of staff at the company.

Since GKN took over Volvo Aero the management has been clear that the costs would be too high.

GKN CEO, Mike McCann said that the company is now facing tough challenges.
"We have a challenge next year, but we see a bright future in the market. There is tough competition. In order to be competitive, we must do this."

GKN Aerospace has approximately 2,300 employees in Trollhattan. The business, formerly known as Volvo Aero, was taken over by Volvo on October 1.
GKN is a British engineering company with 44,000 employees in 30 countries.

GKN's business area for components for aircraft engines, Aerospace Engine Systems, will have its headquarters in Trollhattan, announced the company.
The business area consists largely of former Volvo Aero, with plants also in Linkoping, Kongsberg and U.S..
By Scancomark.com Team

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