Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Northvolt introduces total freeze on expenses

The economic situation for crisis-stricken Northvolt is reportedly acute. A total freeze on all expenses is now being introduced, reports Norran. We're wondering if we'll even get our salary paid at the end of the month, says an employee to the newspaper.

Published: 14 September 2024
Northvolt introduces total freeze on expenses
Photo: Magnus Lejhall/TT

Norran refers to an internal message that is said to have been sent out on Friday about a stop for travel and expenses for the entire Northvolt, including all employees in Sweden, Poland, Canada, and Germany.

The only exception is a specific program, "Path to 100K". What the program concerns is not clear.

Norran has spoken to several employees who express great concern about the extent of the crisis that has been highlighted. From management, it is said to be completely silent, according to "several well-informed sources".

We know nothing, no one tells us anything, says an employee.

It was on Monday that the battery manufacturer announced a series of cost-cutting measures, including staff reductions, citing a challenging economic situation.

Places
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Downward trend in the USA after Fed's double rate cut
1 MIN READ

Downward trend in the USA after Fed's double rate cut

Expert: Monetary Policy Exclamation Mark from Fed
2 MIN READ

Expert: Monetary Policy Exclamation Mark from Fed

Double rate cut by Fed – more cuts await
2 MIN READ

Double rate cut by Fed – more cuts await

VW to close car factory in China by 2025
1 MIN READ

VW to close car factory in China by 2025

High-Cost Protection for Medicines Deteriorates
1 MIN READ

High-Cost Protection for Medicines Deteriorates

Increase in housing starts in the USA
1 MIN READ

Increase in housing starts in the USA

GM starts selling adapter for Tesla chargers
1 MIN READ

GM starts selling adapter for Tesla chargers

14 Percent Pay Rise for British Train Drivers
1 MIN READ

14 Percent Pay Rise for British Train Drivers

Inflation in the eurozone fell in August
1 MIN READ

Inflation in the eurozone fell in August

Maersk warns of "significant delays"
1 MIN READ

Maersk warns of "significant delays"

Problem for major bank – app and website down
1 MIN READ

Problem for major bank – app and website down

Court Victory for Google – Worth 17 Billion
1 MIN READ

Court Victory for Google – Worth 17 Billion

JP Morgan bets on Nordic expansion
1 MIN READ

JP Morgan bets on Nordic expansion

Campari Falls After Unexpected CEO Departure
1 MIN READ

Campari Falls After Unexpected CEO Departure

British Inflation Unchanged
1 MIN READ

British Inflation Unchanged

Economists see glimmers of hope on the labor market
2 MIN READ

Economists see glimmers of hope on the labor market

Skanska lands major order in Texas
1 MIN READ

Skanska lands major order in Texas

The stock market fell ahead of the interest rate decision from the USA
2 MIN READ

The stock market fell ahead of the interest rate decision from the USA

Crisis for Tupperware – Seeks Bankruptcy Protection
1 MIN READ

Crisis for Tupperware – Seeks Bankruptcy Protection

These are the households that are the budget's winners
3 MIN READ

These are the households that are the budget's winners