|
The
company said Monday that around 1,200 of the job reductions
would come among workers in Sweden, with another 1,000 positions
currently filled by consultants, mostly in Sweden, also slated
for elimination.
The rest of the job losses would be in other global markets.
Most of the jobs being cut are office positions.
“The actions announced today have been difficult decisions, but
they are important steps as we build a stronger and even more
resilient Volvo Cars,” said Håkan Samuelsson, Volvo Cars
president and CEO.
“The automotive industry is in the middle of a challenging
period. To address this, we must improve our cash flow
generation and structurally lower our costs."
The company, owned by China's Geely, has 42,600 full-time
employees.
Carmakers around the world are facing several headwinds, among
them higher costs for raw materials, a diminished European car
market, and U.S. President Donald Trump's imposition of 25%
tariffs on imported cars and steel.
Volvo Cars has its main headquarters and product development
offices in Gothenburg, Sweden, and makes cars and SUVs in
Belgium, South Carolina and China.
All contents © copyright 2025 Associated Press. All rights reserved
|
|
