{"id":48912,"date":"2023-05-04T12:03:16","date_gmt":"2023-05-04T16:03:16","guid":{"rendered":"http:\/\/autosector.com\/?p=48912"},"modified":"2023-05-04T12:03:16","modified_gmt":"2023-05-04T16:03:16","slug":"volvo-cars-laying-off-1300-as-it-steps-up-cost-cuts","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=48912","title":{"rendered":"Volvo Cars laying off 1,300 as it steps up cost cuts &#8211; Autoblog"},"content":{"rendered":"<p>Volvo Cars will lay off around 1,300 office-based employees in Sweden as it steps up cost cutting, the Sweden-based automaker said on Thursday.<\/p>\n<p>While an earlier efficiency drive had begun to show results, with <a href=\"https:\/\/www.autoblog.com\/2023\/05\/01\/volvo-ex90-order-book-closed-due-to-tremendous-reception\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:0;\">Volvo this week reporting a strong first quarter<\/a>, more efficiency was needed, CEO Jim Rowan said in a statement.<\/p>\n<p>&#8220;Economic headwinds, increased raw material prices and increased competition are likely to remain a challenge to our industry for some time,&#8221; he said.<\/p>\n<p>The 1,300 positions equate to 6% of Volvo Cars&#8217; workforce in Sweden.<\/p>\n<p>Rowan told Reuters the group did not yet know how much it would save from the new measures. &#8220;We&#8217;re still working the details through on that,&#8221; he said in an interview.<\/p>\n<p>The company said it had issued redundancy notices for 1,100 employees, while the remaining 200 white-collar positions would be identified following a review of the business across Sweden.<\/p>\n<p>It said it also expected to cut jobs and reduce costs across its global operations in the coming months, including its consultancies.<\/p>\n<p>Rowan said he could not yet specify where those jobs would be cut, but that focus would primarily remain on office-based positions.<\/p>\n<p>&#8220;We sell in over 80 countries or so worldwide, so I think there&#8217;s opportunities for us to become more efficient across the entire network,&#8221; he told Reuters.<\/p>\n<p>Volvo <a class=\"injectedLinkmain\" href=\"https:\/\/www.autoblog.com\/tag\/car+sharing\/\" data-ylk=\"elm:context_link;itc:0;pos:1;sec:donut-hole;cpos:1;\">Cars shares<\/a> were down 3.87% at 0848 GMT.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Volvo Cars will lay off around 1,300 office-based employees in Sweden as it steps up cost cutting, the Sweden-based automaker said on Thursday. While an earlier efficiency drive had begun to show results, with Volvo this week reporting a strong first quarter, more efficiency was needed, CEO Jim Rowan said in a statement. &#8220;Economic headwinds, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[],"class_list":["post-48912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/48912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48912"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/48912\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48912"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}