Volvo: Cutting 2000 jobs as sales drop

GMT 07:05 2013 Friday ,25 October

Arab Today, arab today Volvo: Cutting 2000 jobs as sales drop

Arab Today

Swedish carmaker Volvo on Friday announced it was cutting some 2,000 jobs as it unveiled third-quarter results showing a five-percent drop in group net sales. "As part of the previously announced Group-wide efficiency programme, a directional decision has been made to rationalise white collars in staff and support functions by approximately 2,000 employees and consultants," the firm said in a statement.

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