Volvo Cars to slash 3,000 jobs in white-collar cutback

News Snapshot:

The Volvo logo on the front grille is shown in Miami. (AP / Alan Diaz) STOCKHOLM — 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 per cent 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 in Europe and...