Volvo Cars to cut 2,000 jobs in Sweden after big quarterly loss
Volvo Cars said Friday it will cut about 2,500 jobs worldwide, roughly 2,000 of them white-collar positions around Gothenburg, after posting a third-quarter operating loss of 5.6 billion kronor against a 6.4 billion kronor profit a year earlier. The company blamed US tariffs, intensifying Chinese competition and the Trump administration's removal of EV purchase incentives, and CEO Håkan Samuelsson said it needed “additional decisive actions, lowering our break-even point,” to be achieved through voluntary redundancies, a hiring freeze and natural attrition rather than factory-floor layoffs. Truck-making sister company AB Volvo had the opposite quarter, with adjusted operating profit of 14.7 billion kronor and orders up to 46,918 vehicles from 37,134 a year earlier.