STOCKHOLM (Reuters) – Volvo Car Group, owned by China’s Geely Holding, said on Wednesday it was giving notice of redundancy to 1,300 white-collar workers in Sweden as the impact from the pandemic increased the urgency of lowering structural costs.
The company, which has 24,000 staff in Sweden excluding about 2,000 consultants, said in a statement the actions also included a continued review and reduction of consultancy contracts, but would not affect Volvo’s manufacturing operations.
Reporting by Johannes Hellstrom; editing by Niklas Pollard
