Volvo to cut 3,000 jobs as company feels effect of tariffs

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Swedish automaker Volvo unveiled its plan to lay off 3,000 employees Monday after President Donald Trump announced tariffs on foreign automobiles last month.

The layoffs are part of Volvo’s attempt to become a “leaner, more efficient organization.” It is terminating 1,200 office-based employees in Sweden, 1,000 consultants in Sweden, and the remaining 800 from its worldwide workforce. Altogether, these layoffs represent 15% of its staff.

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