Volvo Cars to cut 3000 jobs as part of the main cost drive

On Monday, Volvo Cars car stated in Sweden to cut about 3,000 jobs under a major expense drive.

This step goes after a company belonging to China Geely Holding, announced At the end of last month, $ 18 billion ($ 1.89 billion) and a monetary plan.

Volvo Cars said 3000 job cuts will primarily affect the office based on the office in Sweden and will be about 15% of the firm’s total labor force.

“The actions announced today were difficult decisions, but they are important steps when we are building stronger and even more elastic Volvo cars,” said Håkan Samuelsson, President Volvo Cars and CEO.

“The automotive industry is in the middle of the difficult period. In order to solve this, we must improve our cash flow and structurally reduce our costs. At the same time, we will continue to provide the development of the talents we need for our ambitious future,” Samuelson said.

When an action plan was launched on April 29, Volvo Cars said the program would include a reduction in investment and dismissal in its activities around the world.

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