“Volvo” clarified that the abolition of administrative jobs represents about 6% of its employees in Sweden, and while Thursday’s announcement relates to Sweden only, the company said that it “will reduce costs and increase efficiency across its global operations in the coming months.”
The Chinese-owned Swedish company Volvo announced Thursday that it will cut 1,300 administrative jobs in Sweden in an effort to cut costs, warning that it will take similar measures in its operations around the world.
The company’s CEO, Jim Rowan, said in a statement that the cost-cutting measures taken last year were beginning to “bear fruit,” but “it is clear that we need to do more.” remain a challenge to our industry for some time.”
The company stated that the abolition of administrative jobs represents about 6% of its employees in Sweden, and while Thursday’s announcement relates to Sweden only, the company said that it “will reduce costs and increase efficiency across its global operations in the coming months.”
In late April, the company reported a drop in first-quarter profit, despite higher sales, and said it was “evaluating the need for more targeted cost-cutting measures.”
On the other hand, the company, which aims to become 100% electric by 2030, said that one-fifth of the cars sold in the first quarter were electric.