The Swedish car maker Saab, recently cut off by parent company General Motors, is to cut 750 jobs in an attempt to survive. The job losses will be at Saab's only factory based at Trollhattan, Sweden which employs approximately 2,000 of the car makers 4,000 staff.
The cuts are direct result of a slump in car sales and desperately needed despite the apparent interest of multiple would be suitors and investors. According to industry sources, the car maker has between six and eight interested companies. However, competition for investment is fierce especially because of Ford's wish to offload the Volvo car brand.
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