Reported 1 day ago
Volvo Cars has announced plans to cut 3,000 jobs, primarily in white-collar positions, as part of a restructuring aimed at addressing high costs, reduced demand for electric vehicles, and ongoing trade uncertainties. This substantial downsizing, representing about 15% of its office workforce, comes as the company seeks to stabilize its share price and improve operational efficiency. The layoffs will predominantly affect employees in Gothenburg and are part of a broader initiative to achieve cost savings of approximately 18 billion Swedish crowns.
Source: YAHOO