Haldex Extends Short-term Working Plan in Landskrona

STOCKHOLM, April 29, 2020 /PRNewswire/ -- Haldex extends the short-term working plan (previously called short-term layoffs) for most employees in Landskrona, introduced on 30 March. In total, approximately 250 employees are affected.

The decision to extend the short-term working plan follows from continued reduced demand for Haldex products and services and the need to mitigate the negative financial effects of Covid-19. The short-term working plan, affecting almost all employees in Landskrona, was implemented on 30 March 2020 and is now extended to last at least throughout May. The agreement with the unions gives room for further extensions as long as Covid-19 affects the business. Haldex will, in close dialogue with the unions, continuously evaluate the situation and the need to extend the short-term work also for the coming months.

"Unfortunately, we must extend the short-term working plan to adjust the cost base as long as Covid-19 impacts our business. Obviously, we want to avoid layoffs as far as possible and these measures allow us to maintain our skilled workforce ensuring a quick ramp up of working hours as the situation improves.", says Helene Svahn, CEO and President of Haldex.

About Haldex

Over 100 years of powerful innovation gives Haldex unsurpassed expertise when it comes to braking systems and air suspension systems for heavy trucks, trailers and buses. We live and breathe our business with the goal to deliver robust and technically superior solutions which is founded in a deep insight in our customer's reality. Through focusing on our core competences and the passion we all share, we achieve the agility and flexibility that the market demands. Innovative collaborations aren't only the core of our products, but our philosophy. Our 2200 employees, spread out across four continents, challenge the conventional on a daily basis in order to secure that the products we deliver create a unique value to our customers and the end users. We are listed on Nasdaq Stockholm and have a turnover of approx. 5 billion SEK.

This document is essentially a translation of Swedish language original thereof. In the event of any discrepancies between this translation and the original Swedish document the latter shall be deemed correct.

For further information, please contact:
Helene Svahn, CEO
Phone: +46-418-47-60-00
E-mail: katarina.ronne@haldex.com

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SOURCE Haldex