Autoliv Inc.
ALV,
stock is up 1.3% on Thursday after the auto safety equipment maker said it plans to lay off about 11% or up to 8,000 of its direct and indirect work force in an effort to contain costs. Starting this year and concluding by 2025, Autoliv will trim up to 6,000 jobs in its global direct headcount. It will also cut about 2,000 people in its indirect work force, including 1,000 people in Europe. “We intend to simplify and consolidate how we operate in all areas,” CEO Mikael Bratt said in a statement. “The headcount reduction will affect people based in our offices, technical centers, and plants, including leadership positions at all levels.”
