According to the company, the layoffs would primarily affect Swedish office-based jobs, which account for 15% of its white-collar workers.
The Chinese company Geely Holding owns Volvo Cars, which last month unveiled a “action plan” to restructure the company for 18 billion Swedish kronor ($1.9 billion; £1.4 billion).
President Donald Trump’s 25% tariffs on imported automobiles, rising material costs, and weaker sales in Europe are just a few of the significant issues the global auto sector is currently dealing with.
Håkan Samuelsson, the CEO of Volvo Cars, attributed the layoffs to the “challenging period” the sector was going through.
“The decisions made today were tough, but they are crucial stages in creating a stronger and even more robust Volvo automobile.
