Volvo Cars to slash 3,000 workers amid global trade uncertainty

Sweden-based automaker Volvo Cars said it is eliminating 3,000 white-collar jobs at operations around the world as the automotive industry faces supply chain and tariff-related disruptions. 

The layoffs represent around 15% of Volvo Cars’ office staff, with about 2,200 job losses expected to occur in Sweden and the rest in the company’s global operations.

Volvo Cars has not said where the other workforce reductions will take place.

The job cuts announced Monday are part of a $1.88 billion action plan to bolster the company’s long-term profitability, officials said.

“The automotive industry is in the middle of a challenging period,” Håkan Samuelsson, president and CEO of Volvo Cars, said in a news release. “To address this, we must improve our cash flow generation and structurally lower our costs.”