Autoliv Chief Financial Officer Fredrik Westin says labor shortages that have plagued several industries -- think understaffed airports that were unprepared for the massive return of travelers -- could cause trouble in the automotive sector.
"In Europe, the orders from our customers are quite positive. Therefore, it's not just going to be a challenge when it comes to component availability but also labor availability. That will be one of our focus areas here in the near term to secure the labor that will be needed to fulfill these potential volume requirements for our customers," Westin told Automotive News Europe.
Autoliv reduced its headcount by 7,000 people to about 61,000 workers between the fourth quarter of 2020 and the fourth quarter of 2021. That number grew to more than 64,000 at the end of the second quarter, but that was still thousands of people short of where it was 18 months ago.