Volvo to reduce 3000 jobs amid commercial uncertainty Business and economics

Displacement operations come days after US President Donald Trump threatened by 50 percent on European Union commodities.

Swedish auto manufacturer Volvo is scheduled to reduce 3000 white -collars jobs, amid restructuring efforts with the start of prices due to uncertainty on customs tariffs.

The company announced the news on Monday. Workers’ layoffs come at a time when the Swedish auto industry company is trying to revive its rock share price and better hand the demand for its cars by restructuring part of its business and reducing its costs.

CEO Hakan Samuelson, who was recently returned to this role after the company headed for a decade until 2022, unveiled a program in April to reduce the costs of $ 1.9 billion (18 billion Swedish crowns), including a significant reduction in egg Folfo employees, who make up 40 percent of the workforce.

“She has white collars in almost all fields, including research and development (research, development), communication and human resources,” Samuelson told Reuters.

Volvo cars said in a statement that the demobilization of workers represented about 15 percent of the company’s office employees, and will bear the cost of one -time restructuring of $ 160 million (1.5 billion crowns).

The new financial manager of Volvo Frederick Hanson Reuters told Reuters that although all its sections and locations will be affected, most of the repetition will occur in Gothenburg.

Hanson said: “It is specially designed to make us structurally more efficient, and then it may vary how it is operated slightly depending on the area. But no stone has been left without change,” Hanson said.

with Most of the production on it In Europe and China, Volvo Cars is exposed to the new definitions of the United States from many of its European competitors, and said it may become impossible to export its most affordable cars to the United States.

The company said in a press statement that it would end with a new structure by the third quarter of this year.

Volvo withdrawing his financial guidance The costs also announced last month, referring to unexpected markets amid the weakest consumer confidence and commercial definitions that cause turmoil in the global auto industry.

The declaration of workers’ demobilization comes just days after US President Donald Trump threatened to impose a 50 percent tariff on imports from the European Union as of June 1. However, he fell on that date, and a final date on July 9 to allow talks between Washington and Brussels.

As a result, Volvo CEO said this step will make it difficult for her to sell one of its electric cars (EVS) – EX30 EV, which was manufactured in Belgium – in the American market.