In Haldex’s interim report for the first nine months of 2008, which was published on October 24, a cost-reduction program was announced. The purpose was to adjust the cost structure to the declining demand and to increase production efficiency. As a feature of the cost-reduction program, the global workforce will be reduced by 700 employees no later than mid-2009.

Haldex is now giving notice concerning the layoff of 105 employees within the operations conducted at the plant in Landskrona, Sweden. The notice pertains to 80 employees in the company’s brake system operations (Haldex Brake Products) and 25 employees in the operations involving all-wheel drive systems (Traction). In parallel, a process is under way aimed at reducing the number of consultants, temporary employees and employees on short-term contracts.

Structural changes of operations will also be implemented with the aim of creating a more focused and profitable business.