Volvo Cars cuts 2,500 jobs in Sweden amid cost-saving plan

Volvo Cars announced a cost-cutting plan eliminating 2,500 jobs, 2,000 in Sweden, to save 5 billion SEK. The company reported an operating loss of 5.6 billion SEK in Q3, versus a 6.4 billion SEK profit a year earlier, signaling significant financial deterioration. This reflects broader pressure on the auto sector from EV transition costs and demand softness.

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