


Volvo Cars cutting 3K jobs to reduce costs
Sweden-based Volvo Cars is eliminating 3,000 positions as part of a cost-cutting program as the automotive industry faces challenges from trade tensions and resulting economic uncertainty.
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 Associated Press