Volvo Car Shares Plunge After Automaker Plans 2,500 Job Cuts
Volvo Car said it would cut another 2,500 jobs, around 6% of its workforce, under an expanded turnaround plan. Its Stockholm-listed shares fell 26% in early trading.
Dominic Chopping reports from Stockholm that Volvo Car shares fell sharply after the automaker said it would eliminate another 2500 jobs, about 6% of its workforce, as part of an expanded turnaround plan. The company is seeking to address growing pressures, including continued weakness in China. The Stockholm-listed shares were down 26% in early trading.