Volvo Cars plans 2,500 job cuts after third-quarter adjusted operating loss

Volvo Cars plans to cut 2,500 jobs worldwide, including 2,000 in Sweden, Reuters reports. Its third-quarter 2026 adjusted operating loss was 3.7 billion Swedish kronor, versus a 5.8 billion kronor profit a year earlier. Volvo plans to end consultant contracts, use natural attrition and offer targeted exit packages, while targeting another 5 billion kronor in cost reductions by the end of 2027.