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Saab auto says has no money to pay wages

STOCKHOLM : Swedish auto maker Saab is unable to pay wages because it does not have the money, the Dutch parent company
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By Syed Murtaza Gheblehzadeh
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saabSTOCKHOLM: Swedish auto maker Saab is unable to pay wages because it does not have the money, the Dutch parent company Swedish Automobile, formerly Spyker, said on Thursday.

"Swedish Automobile N.V. (Swedish Automobile, formerly Spyker Cars N.V.) announces that Saab Automobile AB (Saab Automobile) will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding," a statement said.

Copyright AFP (Agence France-Presse), 2011

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