Volvo Cars to cut 3,000 mostly white-collar jobs as part of restructuring

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Open this photo in gallery: According to its first quarter earnings report, Volvo had 43,500 full-time employees and 3,000 staffing agency personnel.Maja Smiejkowska/Reuters Sweden’s Volvo Cars will cut 3,000 mostly white-collar jobs as part of a restructuring announced last month as it grapples with high costs, a slowdown in electric-vehicle demand and trade uncertainty, it said on Monday. The layoffs represent around 15% of the company’s office staff, with close to three-quarters of job losses expected to occur in Sweden and the rest in the company’s global operation, Volvo Cars said in a statement. With most of its production based...