Volvo Cars to slash 3,000 jobs

Volvo Cars will cut 3,000 mostly white-collar jobs as part of a restructuring announced last month as it grapples with high costs, a slowdown in electric vehicle demand and trade uncertainty, it said on Monday.

- Reuters

The layoffs come as the Swedish automaker tries to resurrect its rock-bottom share price and drum up better demand for its cars by restructuring part of its business and cutting costs.