Volvo Cars axes 3,000 jobs in cost-cutting push, investment arm could be affected
26 maj 2025
15:41
Volvo Cars is cutting 3,000 jobs globally – including 1,200 in Sweden – as part of a major restructuring plan. "We must improve our cash flow generation," says CEO Håkan Samuelsson.
The redundancies could also affect the Volvo Cars Tech Fund, Impact Loop has learnt.
The redundancies could also affect the Volvo Cars Tech Fund, Impact Loop has learnt.
The Swedish carmaker announced the layoffs on Monday, saying they are part of an €1.57 billion action plan to cut costs and improve cash flow.
"The actions announced today have been difficult decisions, but they are important steps as we build a stronger and even more resilient Volvo Cars," said CEO Håkan Samuelsson. "The automotive industry is in the middle of a challenging period. To address this, we must improve our cash flow generation and structurally lower our costs."