AMSTERDAM — Struggling Swedish car maker Saab said Tuesday that they cannot pay almost half of its workforce this month because it has not received the funds expected, reviving fears for its precarious finances.
Saab has lurched from one crisis to another case in recent months, seeking funds so that you can restart the production.
Car Assembly was interrupted in April, when suppliers refused to deliver the parts until they were paid, and Saab only restrictive resist out a request for one of its units to be declared bankrupt last week.
The company's woes deepened on Tuesday, when Saab said it was delayed payment of wages to their employees white-collar because some of the funds committed by investors have not been paid on time.
Saab spokesman Eric Geers told that the decision affects about 1,600 people out of 3.640 employees, about 45 percent of its staff, but refused to say when it would have been paid or how much money could still needed for Saab pay salaries.
"The money is being committed, the only thing is that it has been delayed. This is very, very unfortunate for those who have been affected, "said Geers.
Shares in Saab fell, dropping as much as 20.8 percent, before recovering partially to trade down 11.6 percent to EUR 1.485, the biggest decliner on the Amsterdam stock exchange.
The company said it is taking all necessary measures to raise money and continue talks with various parties to obtain more funding in the short term.
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