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News

Volvo to cut 3,000 jobs in global restructuring drive
Despite strong 2024 profits and record sales, Volvo is set to cut around 3,000 jobs globally - 1,200 employee roles and 1,000 consultant contracts in Sweden, as part of an SEK 18 billion (£1.39bn) cost-saving plan. The move aims to lower costs amid rising pressures from electrification investments, macroeconomic uncertainty, and supply chain issues. The cuts represent about 15% of Volvo’s global office-based workforce. 

President and CEO, Håkan Samuelsson, said “These have been difficult decisions, but they are important steps as we build a stronger and even more resilient Volvo Cars.” 

The reorganisation aligns with Volvo’s push to become fully electric and is expected to be complete by Autumn 2025, with financial benefits anticipated from Q4 2025.

Read more at Automotive Management
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