Reported 3 days ago
Volvo has announced the layoff of 3,000 employees, which constitutes about 15% of its office workforce, primarily in Sweden. This decision is part of the company's strategy to improve cash flow and lower costs amid ongoing challenges, including the threat of increased U.S. tariffs that could impact its ability to export affordable vehicles. The restructuring is aimed at reviving the automaker's declining share price and enhancing demand for its cars.
Source: YAHOO