Volvo to Cut 3,000 Jobs Amidst Industry Crisis | JQJO

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.