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.

You might like these

CrowdStrike & Microsoft Threat Attribution Deal

Gold Surges as Tariffs & Uncertainty Rise

Airtel Partners Perplexity for AI Push

Adani Green Energy Hits 15,500 MW Renewable Milestone

India Q2 2025 GDP Soars on Services Growth

Supreme Power Secures Rs 16.36 Crore in New Transformer Orders

Harsh Kundra Joins NIIT Digital as Head of Technology

News that matters the most ⚡