Volvo axes 1,300 jobs because it steps up price cuts

BE desk

Volvo will lay off round 1,300 office-based workers in Sweden because it steps up its price slicing.

Date the crowd’s potency power had begun to turn effects, extra was once wanted, CEO Jim Rowan stated in a remark on Thursday.

“Economic headwinds, increased raw material prices and increased competition are likely to remain a challenge to our industry for some time,” Rowan stated.

About 1,100 jobs shall be decrease at Volvo’s major world running unit, Volvo Personvagnar, past the residue 200 positions shall be recognized nearest a assessment of the corporate’s entities throughout Sweden, the corporate stated.

The 1,300 positions equate to six p.c of Volvo Vehicles’ body of workers in Sweden.

Rowan stated Volvo didn’t but understand how a lot it might save from the unused measures. “We are still working the details through on that,” he advised Reuters in an interview.

The corporate stated it had issued lay off notices for 1,100 workers, past the residue 200 white-collar positions could be recognized following a assessment of the industry throughout Sweden.

World cuts

It stated it additionally anticipated to decrease jobs and loose prices throughout its world operations within the coming months, together with its consultancies.

Rowan stated he may just now not but specify the place the ones jobs could be decrease, however that center of attention would essentially stay on office-based positions.

“We sell in over 80 countries or so worldwide, so I think there’s opportunities for us to become more efficient across the entire network,” he advised Reuters.

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