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.
More to come at FreightWaves.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
