Volvo Car (VLVOF, VOLCAR-B.ST) announced a global reduction of about 3,000 positions, including consultants, as part of its newly launched 18 billion Swedish kronor cost and cash action plan. This initiative aims to create a leaner, more efficient organization to tackle industry challenges and secure the company's long-term profitability.
The Swedish manufacturer of luxury vehicles said that the job cuts will primarily affect office-based positions in Sweden and will represent around 15 percent of the total office-based workforce globally.
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