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Volvo Cars to Cut 2,500 Jobs, Mostly in Sweden, Citing Tariffs and China Competition

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Volvo Cars plans to eliminate about 2,500 jobs, with the majority of the reductions falling in Sweden. The carmaker has been hit by US tariffs and intensifying competition from Chinese manufacturers. The company had invested heavily in electric vehicles, and it says the removal of US consumer incentives for EVs under President Trump has also squeezed its profit margins.

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Volvo Cars to Cut 2,500 Jobs, Mostly in Sweden, Citing Tariffs and China Competition · ShortSingh