Swedish automaker Volvo Cars announced the elimination of approximately 2,500 jobs worldwide. The decision came after the manufacturer slumped into a loss in the third quarter of 2026. Most of the jobs will be cut in Sweden, where the automaker plans to eliminate approximately 2,000 positions. Another 500 jobs concern plants abroad. SITA ↗
In the third quarter, Volvo Cars recorded an adjusted operating loss of 3.7 billion Swedish kronor, which represents approximately 333 million euros. In the same period of the previous year, it had reported a profit of 5.8 billion kronor. The automaker is responding to the results with a new savings program. Index.hu ↗
The situation on the Chinese market has significantly worsened, where the company's sales or revenues fell by almost half. The manufacturer is also facing weak developments in the United States, tariffs imposed by the US, and strong competition in China. Volvo Cars is majority-owned by the Chinese group Geely. n-tv ↗
Last year, the automaker already presented an extensive cost-cutting program worth 18 billion Swedish kronor. In 2025, it also announced a plan to cut 3,000 jobs, with the currently announced cuts representing a further reduction in the number of employees. The company is thus continuing its austerity measures aimed at responding to weaker economic results and unfavorable conditions in key markets. Der Standard ↗
Volvo to cut 2,500 jobs after slump into loss
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Sources (11)
Volvo Cars oznámilo znižovanie pracovných miest na celom svete: Museli priznať pravdu
Nový Čas
| 07:48 23.10.
Automobilka Volvo ohlásila zrušenie 2500 pracovných miest
teraz.sk
| 10:55 23.10.
Volvo Cars licenzia 2.500 dipendenti
ANSA
| 08:41 23.10.
Volvo Cars streicht weltweit rund 2500 Stellen
Der Standard
| 08:29 23.10.
Volvo zruší 2500 pracovných miest, automobilka sa prepadla do straty
hnonline.sk
| 11:03 23.10.
Volvo oznámilo škrty pracovných miest. Doma zruší 2 000, ďalších päťsto v závodoch v zahraničí
SITA
| 09:27 23.10.
Schwaches China-Geschäft: Autohersteller Volvo baut nach Verlust 2.500 Stellen ab
Tagesspiegel
| 09:07 23.10.
Volvo streicht rund 2.500 Stellen
ORF
| 08:21 23.10.
Volvo: Volvo plant Streichung von rund 2.500 Stellen weltweit
Die Zeit
| 11:05 23.10.
Volvo: Umsatzeinbruch in China zwingt Autobauer zum Abbau von 2500 Stellen
Spiegel.de
| 10:51 23.10.
Mélyponton a Volvo, 333 millió eurós veszteség és tömeges leépítés az autógyárnál
Index.hu
| 09:42 23.10.
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