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Volvo to slash 2,500 jobs amid intense pressure from Chinese brands and Trump's auto tariffs
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GB News
Volvo to slash 2,500 jobs amid intense pressure from Chinese brands and Trump's auto tariffs
Swedish manufacturer Volvo has confirmed that it plans to cut 2,500 jobs in response to strong competition from Chinese car brands.
In its interim report for the third quarter of 2026, Volvo announced that its retail sales had decreased by 11 per cent to 141,300 cars.
Between July and September, revenues fell by 23 per cent to SEK 66.9 billion (£5billion), as a result of lower wholesale volumes and adverse sales mi…
23 Oct, 09:10