BusinessPhoto: Hindu BusinessVolvo Cars to Cut 2,500 Jobs Worldwide Amid Losses
Volvo Cars announced on October 23, 2026, that it will cut about 2,500 jobs globally, including 2,000 in Sweden. The Swedish automaker, owned by Chinese group Geely, cited a tough environment with U.S. tariffs and intense competition from Chinese local brands. The company reported a third-quarter loss with revenue of 66.9 billion kronor ($6.7 billion).
Hindu Business··Stockholm



