A well -known Volvo Car AB carmaker has announced a large -scale reduction in staff. The company plans to release about 3,000 workers worldwide, which is approximately 7% of the total number of staff. About it reports Bloomberg with reference to the official message of the company.
This step is part of a broader plan to optimize costs aimed at maintaining a company's profitability in the conditions of reducing demand for a car, in particular on electric vehicles, which have recently been demonstrating uneven growth in demand.
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In total, 3,000 jobs will be reduced, of which 1,000 are consultants, mainly in Sweden.
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In total, Volvo has about 43,800 people, more than half - in Sweden.
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It is expected that 1,200 full -time employees will be released in Sweden.
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The company will spend 1.5 billion Swedish crowns (about $ 140 million) for restructuring.
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These costs will affect the financial results of the second quarter of 2025.
Volvo CFO Fredrick Hanson emphasized that restructuring is "critical" for the company's long -term viability:
"We need to become more efficient and sustainable to handle new market challenges."
For his part, CEO, Hakan Samuelson, promotes a program to increase efficiency worth 18 billion Swedish crowns, which should help stabilize the company's activities against the backdrop of global trade barriers and electric vehicles.
The company reported that the operating profit for the first quarter of 2025 decreased by 60%, which was one of the reasons for the activation of the restructuring program. Reducing sales, complications of logistics and fluctuating interest in electric transport make companies look for ways to maintain competitiveness.
