Volvo cars announces 3,000 job cuts due to trade tensions, economic uncertainty

Volvo Cars, based in Sweden, announced plans to eliminate 3,000 positions as part of a cost-cutting initiative amid challenges in the automotive industry due to trade tensions and economic uncertainty. The company disclosed that approximately 1,200 job cuts would affect workers in Sweden, while around 1,000 consultant positions, also primarily in Sweden, would be eliminated. The remaining job reductions would take place in various global markets, with most cuts targeting office roles.

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