Volvo cars, to cut 3,000 jobs as part of a large expense cutting drive

Swedish-based car manufacturer Volvo cars, about 3,000 employees on Monday, said it will be cut as part of a large expense driver.

The move comes after China’s gee-owned company, declared The cost of 18 billion Swedish CRONE ($ 1.89 billion) and the cashier action plan last month.

Volvo Cars, 3,000 working cuts will primarily affect the office-based positions in Sweden and the company will make up about 15% of the total operating labor force.

“Today, the actions made difficult decisions, but are important steps to build more powerful and stronger Volvo cars,” said Håkan Samuelsson, Volvo CEO and CEO General Director.

“The automotive industry is in the middle of a difficult period. We must increase our cash to develop and lower our expenses. We will continue to ensure the development of the talent needed for our ambitious future,” Samuelsson said.

As part of the carelessness, the company, currently in Sweden, about 1,200 employees in Sweden, the remaining 1,200 employees in other global markets will be in about 1,000 positions, he said.

The Action Plan said on April 29, the program will include the reduction in investments and decline in operations in the world in their operations all over the world. The company referring to the financial management for both 2025 and 2026 and the tariff pressure in the car sector.

US President Donald Trump threatened to implement 50% tariffs from early June to the European Union on Friday desire The automatic index of Europe will fall sharply.

The US president has watered threat since today, announcer Sunday, the penalty agreement agreed to push the role of import duties from July 9 Following the rich President of the EU Commission Ursula Von Der Leien.

The EU, a large number of goods, steel and aluminum and “mutual” tariffs are more than 25% import tariffs of US more than 10% for other goods.

Volvo cars said that measures were strong to be a completely electric car company to ensure that this could deliver a long-term strategy.

Leader (house) in electric vehicle, Volvo cars declared In September, only houses to sell EVS, selling a “pragmatics and agile” to be “pragmatic and flexible” to sell market conditions and cooling demand.