Saab expected to pay workers this week

3rd August 2011, Comments 0 comments

The salaries of thousands of Saab employees are expected to be paid this week. Swedish Automobile, the Dutch owner of the Swedish car company, announced the anticipated pay-out Wednesday.

The news comes a week after Saab announced it could not pay almost half of its workforce. Spokesman Eric Geers told Reuters on 27 July that a delay in receiving funds from committed investors would prevent them from paying 1,600 out of 3,640 employees.    On Wednesday, Swedish Automobile confirmed the sale of five million shares to investment fund GEM Global Yield Fund. The financial agreement will generate a total of 150 million euros for the carmaker. The funds are expected to go towards employee wages.   


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