Volvo Cars to lay off 1300 employees in Sweden. Costs have significantly increased.

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Foto: Volvo

Volvo Cars to lay off 1300 employees in Sweden

Costs have significantly increased

To "increase its focus on cost efficiency for long-term sustainable growth" Volvo Cars will lay off around 1300 people in Sweden. 1100 of these job cuts will affect positions at Volvo Cars AB, while the remaining 200 will impact other operations throughout the country. Additionally, there will be restructuring and changes to work processes in certain parts of the organization. The goal is to increase efficiency and ensure that the right skills are in the right places. In its global operations there will also be a review and reduction of the number of consultants and purchased services.

Read Volvo's press release regarding this matter at the link below.

investors.volvocars.com

Cars,

Volvo Cars, Volvo Cars AB, consultants, purchased services, restructuring

37.0°