North India Statesman
[ad_1]
News India Live, Digital Desk: Swedish automaker Volvo Cars AB has announced a plan to cut around 3,000 jobs globally as part of cost cut cuts. On Monday, it was revealed that the move would affect about 7 percent of the total employees of the company. It consists of 1,000 advisors. There are around 43,800 employees worldwide and more than half of them are in Sweden.
Volvo has announced that acceptanceAbout 1,200 jobs will be reduced in Dunn. Meanwhile, the rest will be cut in various global markets. Most of the jobs affected are office -based. Volvo Cars CEO Hakan Samuelson admitted that the decision was difficult, but it was necessary to keep the company on the right path.
Volvo Cars said that the correct number of job cuts in other countries would be decided after a complete review of its organization. The company aims to complete all these changes by the autumn of 2025.
Volvo cars are taking major steps to deal with difficult times in the auto industry, focusing on cost cuts and improving cash flows. “The actions announced today are difficult decisions, but they are important steps as we are making a strong and more flexible Volvo car. The automotive industry is going through a challenging phase. To address it, we should improve our cash flow production and reduce our costs structurally,” said the company’s president and CEO Hakan Samuelson.
Volvo cars, owned by China’s gallie holding, saw a huge decline in their income in the first quarter of 2025, falling from a 4.7 billion chronor to 1.9 billion Swedish chronners in the first quarter of 2025. The company has also announced that it will no longer provide financial forecasts for 2025 and 2026. Volvo Cars is a Swedish multinational company known for making luxury vehicles.
