Volvo Cars cutting 3,000 jobs to reduce costs
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Volvo to cut 3,000 jobs amid economic uncertainty
- Volvo Cars is cutting 3,000 jobs globally due to economic uncertainty and trade tensions impacting the automotive industry.
- Approximately 1,200 of the job cuts will affect workers in Sweden, with an additional 1,000 consultant positions (primarily in Sweden) also being eliminated.
- The remaining job losses will occur in other international markets, mostly affecting office positions.
- CEO Håkan Samuelsson acknowledged the difficulty of these decisions but emphasized their importance in strengthening the company's resilience.
- The cost-cutting measures come as the automotive industry grapples with challenges such as rising raw material costs, a weaker European car market, and US tariffs.