Swedish carmaker Volvo Car AB plans to lay off around 7% of its global workforce, affecting approximately 3,000 positions. The move aims to reduce costs and counter declining demand, while protecting profits. This decision will primarily impact consultants, with nearly 1,000 jobs at risk. As the company downsizes, it employs a total of 43,800 people, more than half of whom are based in Sweden.
Source: https://www.bloomberg.com/news/articles/2025-05-26/volvo-car-to-cut-3-000-jobs-to-become-leaner-protect-profits