Saab No Longer Able To Pay Salaried Employees

Struggling Swedish car maker Saab said today it cannot pay almost half of its workforce this month because it has not received the funds it had expected, reviving fears about its precarious finances.

Saab has lurched from one cash crisis to another in recent months, seeking funds so that it can restart production. Car assembly was halted in April when suppliers refused to deliver parts until they were paid, and Saab only narrowly fended off a demand for one of its units to be declared bankrupt last week.