Sweden's Volvo Group is cutting 4,100 white-collar jobs globally in the second half in response to the ongoing impacts of the COVID-19 pandemic. About 15% of the cuts will be contractors.
"The Corona epidemic and the global measures taken to fight it has led to a market situation impacting our industry severely. The effects are expected to be lower demand going forward and we need to continue to adjust our organization accordingly," Martin Lundstedt, President and CEO of the Volvo Group, said Tuesday.
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