Volvo Car to cut most jobs to stay competitive

Volvo Car to cut most jobs to stay competitive

Volvo Car has announced that they are now going to cut 3,300 jobs. These latest job cuts are in addition to cuts announced earlier this year.

Auto markets around the world are struggling due to worsening economic conditions. And the companies are cutting costs to stay competitive.

Volvo said that around 2,700 jobs would be cut in Sweden. Rest of the cuts would be implemented in their global operations.

Volvo added in its statement: “To meet the rapidly deteriorating market situation in the global car industry, the management team at Volvo Car Corporation has decided to initiate further structural changes in all parts of the business”.

The company further said: “The total redundancy actions now planned to be initiated account for 6,000 people worldwide, of which 1,200 are consultants.”