Volvo Cars reports a third-quarter loss and plans to cut 2,500 jobs
Volvo Cars plans to cut an additional 2,000 jobs in Sweden. Volvo Cars reported an operating loss of 5.6 billion Swedish Kronor in the third quarter.
- Volvo Cars plans to cut an additional 2,000 jobs in Sweden.
- Volvo Cars reported an operating loss of 5.6 billion Swedish Kronor in the third quarter.
- Volvo's shares dropped 30.1 percent to a record low.
- Volvo Cars announced a new cost-saving package.
- Volvo plans to introduce seven new models for Western markets.
- Volvo Cars attributed the decline to slow production of the EX60 and weak demand in China and the US.
- Approximately 2000 of these positions are located in Sweden.
- Hakan Samuelsson said the possibility of selling Western cars in China is gone.
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