Swedish automaker Volvo Cars announced on Thursday that it will lay off 1,300 administrative staff in Sweden to accelerate the company’s cost-cutting process.
About 1,100 employees correspond to the vehicle division, which is the company’s main division, and the rest will be identified after a review process.
The total number of laid-off workers is about 6% of Volvo Cars’ total workforce in Sweden, which totaled more than 43,000 employees at the end of last year.
“The company will also reduce costs and implement efficiency measures in its global operations in the coming months, as well as review and reduce the number of consultants and services acquired,” a statement said.
The company’s executive president, Jim Rowan, highlighted the global economic situation, rising raw material prices and competition to justify the measures, as well as the company’s transformation process, which plans to source 100% of its production by 2030. electric vehicles to exist.
Volvo Cars, which is controlled by Chinese automaker Volvo Cars, posted a net profit of SEK 4,000 million (352 million euros) in the first quarter, down 12% on the previous year, according to a balance sheet presented last month.
Source: DN
