Volvo Cars will fire 3,000 people, including about 1,000 consultants, in his offices scattered around the world. “The automotive industry is going through a difficult time”
Volvo It will cut 3,000 jobs, most of which in Sweden. The announcement follows that relating to the renovation program, equal to 18 billion crowns (1.6 billion euros), made at the end of April. The reasons are in the “deterioration of the economic situation in the automotive sector”, which affects Europe without saving China, where the growth of the sector is slowing down and where production exceeds the demand for almost 50%. The “intends to strengthen and make Volvo Cars more resilient at a time when the automotive industry is faced with considerable challenges”.
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The 3,000 redundancies, which include about 1,000 consultants, will concern Volvo Cars locations all over the world. Most, however, will mainly affect the office positions in Sweden which are equivalent to about 15% of the office workforce globally. The estimated reduction of Swedish activities (Volvo Personvagnar AB) concerns about 1,200 positions of employees. Volvo Cars has started negotiations with the competent unions, with the aim of completing the structural changes in the autumn of 2025. “The actions announced today were difficult decisions, but they represent important steps to build a stronger and even more resilient Volvo Cars – said Hakan Samuelsson, CEO of Volvo Cars – the car industry is crossing a difficult period. cash flows and structurally reduce costs.