Safety equipment maker Autoliv to cut up to 8,000 staff

Swedish-American car safety equipment maker Autoliv said Thursday that it would cut its global staff by up to 8,000 positions, as it attempts to cut costs while facing pressure from inflation.The company said the cuts would be made globally but “particularly within its European operations” where it expects to “close several sites”.

Some 6,000 would be “direct positions” while 2,000 would be “indirect positions. We intend to simplify and consolidate how we operate in all areas. The headcount reduction will affect people based in our offices, technical centers, and plants, including leadership positions at all levels,” Autoliv chief executive Mikael Bratt said in a statement.

Autoliv, a world-leading producer of products such as seatbelts and airbags, also said it was continuing to negotiate with its customers to “secure pricing” as it struggles to pass on increased production costs to its customers -- carmakers.