Volvo Cars Announces 3,000 Job Cuts

Published 1 year ago

Volvo Cars will cut 3,000 jobs (15% of office staff) due to high costs, slowing EV demand, and trade uncertainties, particularly regarding potential US tariffs. The cuts are part of a $1.9 billion cost-saving program.

Job losses concentrated in Sweden & globally.
US tariffs threaten affordable car exports.
Company withdrew financial guidance.

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