Volvo Cars to cut about 2,500 jobs, 2,000 of them in Sweden

Swedish carmaker Volvo Cars announced on 23 October 2026 that it will cut around 2,500 jobs, about 2,000 of them in Sweden, mainly in the Gothenburg area. Chief financial officer Fredrik Hansson said the reductions will come through voluntary departures and a very restrictive hiring policy. The company, majority-owned by China's Geely, reported a third-quarter loss of SEK 5.7bn and its shares fell by about 27% at one point in Stockholm (ANSA, 23 Oct 2026; second source: Jornal de Negócios, 23 Oct 2026).