Volvo is getting back to business.
What's less clear is when it will get back to hiring, after a decline in headcount, and a steep drop-off in job postings. At Volvo's website, it's warning applicants "all ongoing recruitment activities in the Volvo Group have been temporarily slowed down."
As was the case with auto manufacturers and industries of all stripes in the wake of the global pandemic, Volvo ($STO:VOLV-B) job postings plummeted more than 78%, according to data. Now that it's getting back into production mode in Sweden, it remains to be seen how its capacity needs will shift in the reopening economy.
Volvo also just unveiled a plan to team with Daimler Truck AG to crank out hydrogen fuel cell batteries - and presumably, as that joint venture gets into production mode, job postings should tick back up. But, it remains to be seen at what pace hiring resumes - given rising expectations of a global recession.
Recently, headcount measured via LinkedIn for Volvo has begun to decline - just down less than half of a percent, over the last few weeks. Still, it represents hundreds of jobs.
Being able to use European companies and companies in rebounding Asian markets may help to provide a gauge of what to expect for US businesses - although the business climate, monetary policies and governmental planning shaping each country's rebound will invariably produce different data.
However, the earliest phases of companies' data shouldn't be much cause for optimism among market pundits who were hoping for a quick re-open, and a V-shaped stock market bounce to help portfolios regain value. Lower-for-longer may not apply to just interest rates, for a while.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
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