Volvo Cars is slashing about 3,000 jobs worldwide, the Swedish automaker announced Monday. The cuts mainly target office workers at its Gothenburg headquarters in Sweden, hitting roughly 15% of its white-collar staff. The company’s profits have taken a serious hit. In early 2025, Volvo’s operating profit fell to 1.9 billion Swedish kronor, down sharply from 4.7 billion kronor a year earlier. Revenue also dropped by 12%. “The automotive industry is going through a challenging period,” said Håkan Samuelsson, Volvo’s CEO. “We must improve our cash flow and lower our costs.” The cuts will eliminate about 1,200 employee positions and 1,000 … Continue reading Volvo Cars Cuts 3,000 Jobs as EV Slowdown, Profit Drop, and Trump Tariff Fears Hit Hard