Volvo to axe 1,500 jobs

Volvo, the Swedish car manufacturer owned by Ford, is planning to axe 1,500 jobs in a bid to cut &£72m of costs. It is understood that a majority of the cuts will be in Gothenburg, Sweden. The company attributes the job cuts to tougher competition and high steel costs.


Whirlpool buys Maytag

Marketing Week

Whirlpool, the white goods company, has bought rival company Maytag for $1.7bn (&£943m) following a bidding war against private equity company Ripplewood. Maytag had agreed a deal with Ripplewood and has been forced to pay $40m (&£22m) to terminate the deal.


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