Swedish carmaker Volvo says it plans to cut more than 3,000 jobs. This is in addition to the 2,000 job cuts announced earlier this year.
Volvo said in a statement that while job cuts would mostly impact operations in the Swedish west coast city of Gothenburg, an additional 600 employees outside of Sweden would also be made redundant. As well, contracts with 700 consultants are to be cancelled. Chief executive Stephen Odell said that the company was downsizing its 25,000-strong workforce as the downturn in the global car industry was more drastic than expected. The carmaker is expected to sell 400,000 cars this year compared to more than 450,000 last year.
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