00:00Volvo Cars is cutting another 2,500 jobs after last year's layoffs failed to end its financial
00:06struggles. About 2,000 cuts are in Sweden, but the pressures stretch well beyond its home country.
00:12Volvo reported a third-quarter operating loss of 3.7 billion Swedish crowns,
00:17adjusted for certain costs. A year earlier, it made a profit of 5.8 billion crowns in the same
00:23quarter. China revenue fell almost 50%, while demand for electric cars has cooled. Tariffs,
00:30high costs, and competition are adding to the strain on the carmaker. Volvo has already withdrawn its
00:36annual forecasts for sales volumes and cash flow. Now it is ending consultant contracts and offering
00:42selected employees packages to leave. Other jobs will disappear when workers leave and are not
00:47replaced. The chief executive says worsening conditions mean the existing turnaround plan
00:52needs strengthening. Disclosure. This video contains stock footage and content created or enhanced
00:56using AI-assisted tools.
