X

Saab Could Go Bankrupt This Week, Union Warns

Its main plant has been closed since April
By Kevin Spak,  Newser Staff
Posted Aug 29, 2011 11:10 AM CDT

(Newser) – Saab has until Friday to pay its workers—or else. This is the third straight month that the Swedish automaker has failed to pay its workers on time, and last Friday IF Metall put in a request for wages for 1,486 of its blue-collar workers who were due to be paid the day prior and weren't, the Wall Street Journal reports. If Saab doesn’t pony up in seven days, the union can file bankruptcy for it.

story continues below

The company's roughly 1,000 white collar workers intend to send a similar request tomorrow, and Saab doesn’t sound hopeful that it'll meet its deadlines. “Our ambition is to pay the wages,” a spokeswoman said, “but we don't have a financial solution in place at this time.” (Read more Saab stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X