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Volvo Cars gives notice to 1,300 white-collar staff in Sweden

Volvo Car Group, owned by China’s Geely Holding, said on Wednesday it was giving notice of redundancy to 1,300 white-collar workers in Sweden as the impact from the pandemic increased the urgency of lowering structural costs.

The company, which has 24,000 staff in Sweden excluding about 2,000 consultants, said in a statement the actions also included a continued review and reduction of consultancy contracts, but would not affect Volvo’s manufacturing operations, Reuters reported.

According to Bloomberg, the layoffs have become more urgent as measures to isolate populations and restrict travel weigh on car sales, Volvo said. The pandemic has forced carmakers around the globe to halt production and react to a rapid slump in demand. Volvo reopened its factories in Sweden last week after an almost month long shutdown.

 

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