Volvo Cars to cut 2,500 jobs, most of them in Sweden
Volvo Cars disclosed a staffing reduction that will affect about 2,500 positions, with roughly 2,000 of those jobs located in Sweden. Finance director Fredrik Hansson said the company will rely on voluntary resignations, the termination of consultant contracts and a highly restrictive hiring policy rather than outright dismissals. The move follows an earlier reduction effort in 2025 that eliminated a sizable number of office jobs and consultants as part of an 18‑billion‑krona savings plan launched the previous year.
The announcement triggered a steep fall in Volvo Cars’ share price on the Stockholm market. The company expects the cuts to be completed by the end of 2027.
How this was covered
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Why it matters
The layoffs will affect thousands of workers and could have a significant impact on the local economy around Volvo’s Gothenburg headquarters.
How this story developed
- Oct 23 Volvo Cars announces plan to cut 2,500 jobs, most in Sweden
- Oct 23 Volvo said most of the positions to be removed are white‑collar roles in the Gothenburg region.
