Bill Koenig – Bloomberg News
I just wanted to clarify a couple of numbers I guess, a couple of numbers.
Alan Mulally
We can hardly hear you.
Bill Koenig – Bloomberg News
Is that better?
Alan Mulally
Yeah.
Bill Koenig – Bloomberg News
It is better okay just want to clarify two numbers that were mentioned. Lewis talked about something connected with worldwide job cuts and 25% was mentioned. What was the 25% and how many jobs are we talking about? And the time frame?
Lewis Booth
To ensure there is no confusion, the 25% was explicitly the cuts we have announced in Volvo, since the end of June, 2,000 in June, and another 4,000 in October. So that’s the 25%. We are implementing reductions around the world and the announcement we made today was a further 10% cut in personnel-related costs in North America.
Bill Koenig – Bloomberg News
Right and then also you mentioned that there would be a few select models that might be affected by delays in product development. It doesn’t sound like you want to specify models, but in terms like say a proportion of the product portfolio, roughly how many models are we talking about?
Lewis Booth
Let me put it in context, we told you in the second quarter that by 2010 we would be at just slightly better than 40% of our products coming in the segments we talked about in North America and it’s just slightly under 40% now. So it’s very few and it’s very select.
Bill Koenig – Bloomberg News
Okay all right, thank you very much.
Alan Mulally
You are welcome, Bill. |
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