The Volvo Group will launch a one-year apprenticeship program in industrial production specifically geared toward unemployed youth. The initiative involves an investment of SEK 450 million (about U.S. $68.2 million) over the course of three years, which will provide 1,200 young people with an opportunity for a paid apprenticeship and a future in the manufacturing sector.
“The Volvo Group needs young people and young people need jobs — this simple association is the background to our initiative, which we view as an investment in the future,” said Volvo Group CEO Olof Persson.
In total, the Volvo Group has 15 plants in Sweden that manufacture and assemble an array of products ranging from various types of construction machinery and trucks, to buses, marine and industrial engines and transmissions. The program aims to educate more young people with the right skills and experience to work in production, either at the Volvo Group or elsewhere.
“The Volvo Group’s Swedish industrial production operation is a formidable competitor and is one of the reasons behind our major successes in the past decades,” said Persson. “However, if we are to continue to successfully advance our production and manage the forthcoming retirements, we must secure our long-term sourcing of expertise, which is where young people play a crucial role. This initiative feels even more motivated considering the high rate of unemployment among young people.”
The Volvo chapter of the IF Metall union welcomes the initiative of an apprentice program for unemployed youth.
“The high level of youth unemployment requires initiatives from several social bodies, which is where the Volvo Group plays a crucial role,” said Mikael Sällström, chairman of the Volvo chapter of the IF Metall union. “Our work force is aging and a program such as this provides excellent opportunities to create the appeal to young people that we need.”
The Volvo Group aims to train 400 young people every year for three years. During the course of the program, the participants will receive a contractual salary.
For more information, visit www.volvokoncernen.se.