Trade Union negotiations regarding the notice of layoffs of 160 white-collar employees at Volvo Aero have been concluded in agreement. The negotiations resulted in the layoffs of 36 employees, in addition to the 87 employees who have announce that they will leave the company and this positions will not be replaced. Volvo Aero is also decreasing more than 70 consulting positions.

For Volvo Aero, net sales during the third quarter increased by 6% to SEK 1,761 M, compared to SEK 1,656 M in the same period a year ago, mainly due to currency effects. Adjusted for currency fluctuations, sales decreased by 10%.

During the second quarter, Volvo Aero’s sales increased by 20% to SEK 2,034 M (1,700). Adjusted for currency, sales declined by 8%. The decrease was attributable to the downturn, with lower demand for spare parts within the aerospace business.