Volvo Car Shares Plunge as Automaker Adds 2,500 Job Cuts
Volvo Car said it would cut another 2,500 jobs, around 6% of its workforce, under an expanded turnaround plan targeting $500 million in savings. Its Stockholm-listed shares fell 26% in early trading.
By Dominic ChoppingSTOCKHOLM--Shares in Volvo Car plunged after the automaker said it would cut another 2,500 jobs, or around 6% of its workforce, under an expanded turnaround plan that targets $500 million in savings amid worsening market conditions.Stockholm-listed shares were down 26% in early t…