The pace at which NEVS plans to cut jobs has startled the unions ... they thought they and their members were safe at the start of the week. The NEVS management believed that it had received encouraging signals about the progress of the negotiations.
They were apparently too early, too optimistic, or wrong. Question: are we surprised? I am not ! Sober, without a Saab romantic touch, the situation is clear. NEVS loses one asset at a time. First the use of the trademark rights, then the production capability. There are fewer and fewer reasons why anyone should join NEVS.
NEVS will be there in a few days, where the insolvency administrators handed over 2012 in August. A plant that needs to be kept alive with a core team should retain its value. It costs money every day, autumn has begun, winter is catching up faster in Västragötland than here in the south. Then the costs for energy increase, the buildings have to be heated.
At NEVS, 350 employees remain after the termination action. Around 150 to 160 are assigned to the production and maintenance of the systems. The rest of 190 employees work in administration or development. You may still remember the article with the headline siege, It's still going on, maybe Nevs is coming or going.
Morally, at least the end of the episode is reached. Leading trade unionists openly stated on Wednesday that they no longer trust the NEVS management, which is inexperienced with running a car factory and with transactions of this magnitude. Parallels to the final phase of the Muller era were drawn, the saying of the 9 life of a cat made the rounds. Now you have at least arrived at Life 8,5.
Today around € 5.5 million from the state wage guarantee went to employees as wages and salaries. The prepared restructuring plan is to be presented to the first creditors' meeting on October 8. What could be left for renovation ... it's not much. In plain language, no product, no brand, no production. Just an hour-long plant and a development department the size of a better engineering firm.
Yesterday, NEVS admitted for the first time that things are not going as planned. That you underestimated the complexity, as well as the time factor when you went to the negotiations in spring. Also that now you have to find a compromise between the three parties.
The time works to a possible, coolly calculating buyer. He can calmly wait to see what happens and strike when the need is greatest. Without having to accept one of the current shareholders as a minority shareholder, as one would like to have in the Stallbacka. Or with the option of having the best pieces filleted and handed over straight away.
For Trollhättan, for the employees this is hard. These are human tragedies that take place here. Some had given up their job at Volvo to move back to Stallbacka. Where a company, the financial bottleneck in mind, until March recruited workers.
Already noticed? I avoided mentioning the name of our brand in this article. It's the same in Sweden. Even Dagens Industri - the Trollhättan brand not always well-disposed in Muller's time - avoided that in the headline yesterday. NEVS is NEVS, the company has to solve its homemade problems itself. NEVS is probably at the end. When no miracle happens, when there is no white knight. Ailing companies are always waiting for that, but in the vast majority of cases there is no happy final.
To stay with the sober, clear look without Saab romance: the economic life is relentless. Who makes mistakes, who pays. If you make a lot of mistakes, it breaks your neck, you will not get a second chance. NEVS has made many mistakes. That's how the economy is regulated. What is unsustainable disappears from the market. New arises.