Chinese-owned Volvo Cars to cut 3,000 white collar jobs
Source: BBC
Sweden-based car maker Volvo Cars says it will cut around 3,000 jobs as part of its cost-cutting measures.The firm says the layoffs will mainly impact office-based positions in Sweden, representing about 15% of its white collar workforce.Last month, Volvo Cars, which is owned by Chinese group Geely Holding, announced an 18 billion Swedish kronor ($1.9bn; £1.4bn) "action plan" shake-up of the business.The global…
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