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DevelopingEconomy

Volvo Cars job cuts

Volvo Cars plans to cut another 2,500 jobs as sales slump in China and tariffs bite in the US. Its shares plunged more than 30% to a record low after the CEO said the market for Western-developed cars in China is disappearing fast.

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The latest development

BloombergFri 23 Oct · 15:30 UTC

Volvo Car plans to slash another 2,500 jobs as cratering sales in China and tariffs in the US complicate the Swedish…

01Developments

Developments

Friday 23 October

2 developments

  1. 15:30 UTC· the latest

    Volvo Cars to cut 2,500 more jobs; shares plunge over 30%

    The CEO said the market for Western-developed cars in China is disappearing fast, with US tariffs adding to pressure on the turnaround.

    GothenburgSE

    1 sourceBloomberg

    • BloombergBlueskyFri 23 Oct, 15:30

      Volvo Car plans to slash another 2,500 jobs as cratering sales in China and tariffs in the US complicate the Swedish automaker’s turnaround. Volvo Car AB plunged by more than 30% to a record low after the Swedish automaker’s chief executive officer said the market for Western-de
      The original post

  2. 05:30 UTC

    Volvo Cars posts Q3 loss, to cut 2,500 jobs

    The carmaker blamed the slow production ramp of its EX60 electric SUV and weak demand in China and the US.

    GothenburgSE

    1 sourceReuters

    • ReutersBlueskyFri 23 Oct, 05:30

      Volvo Cars swings to third-quarter loss, plans job cuts Volvo Cars swung to an operating ​loss in the third quarter as a slow ‌production ramp-up of its new EX60 electric SUV and weak demand in China and the United States hit sales, and said ​on Friday it will cut some 2,500 job
      The original post