Earlier this week Saab Automobile received approval for its proposal for voluntary reorganization from the Court of Appeal in Gothenburg, Sweden today. Following that Saab released a statement saying that it will launch “an ‘efficiency improvement initiative’ review of the company’s business plan for 2012 and beyond, aiming at creating a more flexible and more competitive cost structure for the company.

New reports suggest that Saab may reduce jobs as it puts together a cost-cutting plan for its survival. “This is a battle won, but not the war,” Saab CEO Victor Muller said.

Muller said that the court’s decision meant employees could get paid by the weekend.

A spokesman for Saab said it was’t sure how many jobs would be lost and how much Saab planned on saving in the process.

Photo Copyright © Omar Rana – egmCarTech.

- By: Omar Rana

Source: Automotive News