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Newest firstToday · Monday 26 October
- Europe·News
Volvo Cars to cut additional 2,500 jobs amid China, US sales slump
On Oct 23, 2026, Volvo Cars announced an additional 2,500 job cuts, about 6% of its workforce, as it reported a Q3 2026 operating loss of SEK5.5 billion. Sales fell 23% year-on-year to SEK66.8 billion, with China sales down 41% and global sales down 11%. CEO Hakan Samuelsson said the old strategy of developing in Europe and selling premium cars in China no longer works.