Read, Watch or Listen

Volvo Cars, owned by China's Geely Holding, will cut approximately 3,000 jobs, mainly office-based roles in Sweden. This is part of a broader cost-cutting plan aimed at strengthening the company amid industry challenges including tariffs, rising material costs, and slower European sales. The layoffs represent about 15% of Volvo's white-collar workforce. This follows a recent announcement of an 18 billion Swedish kronor restructuring plan and reflects the difficult global automotive market, with other major manufacturers also implementing job cuts and price reductions.

Prepared by Christopher Adams and reviewed by editorial team.