New Delhi: Sweden-based car manufacturer Volvo Cars have said that they will cut close to 3000 jobs in line with their cost-cutting measures. The firm has said that the layoffs will mostly be for the office-based positions in Sweden, which represent 15% of its white collar workforce, which accounts for 15 per cent of its workforce.

Volvo Cars’ owner, the Chinese group Geely Holding, last month announced a £1.4 billion “action plan” to rest the business. The global motor industry, of course, faces quite a few challenges in front of them, including United States President Donald Trump imposing 25% tariffs on imported cars, higher cost of materials and a drop in sales in........

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