Due to decreasing global demand, Volvo announced today that it will be slashing more than 13 percent of its work force, or about 3,300 jobs. Of the 3,300, 2,000 will be blue-collar jobs while 1300 will be white-collar jobs in Sweden.
Volvo said that including the reduction in June, Volvo’s total layoff number comes to around 6,000 worldwide.
“These are difficult times for the car industry in general, including Volvo. These actions are necessary to create a new and sustainable Volvo Car Corporation — a company with more focused operations and structure,” said, Volvo Car President and CEO Stephen Odell.
Source: Detroit News