India, May 26 -- 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.
Of the 3,000 job cuts, Volvo Cars will eliminate around 1,000 consultant positions, primarily in Sweden, along with 1,200 employee-held roles in Sweden. The remaining reductions will ta...