The Swedish Carmaker Volvo Cars wants to delete about 3000 jobs in the course of its ongoing restructuring. The manufacturer, controlled by Chinese Geely Holding Donald Trump (78).
“The automotive industry is in the middle of a challenging phase. In order to meet this, we have to improve our cashflow and structure our costs structurally,” said CEO Håkan Samuelsson (74). According to the company, the job cuts mainly affect jobs in the administration in Sweden. They correspond to about 15 percent of global administrative staff.
Samuelsson followed his own successor
. He came to Volvo from the vacuum cleaner manufacturer Dyson in 2022 and had replaced Samuelsson, who led Volvo for ten years. Now the manager has returned and is supposed to get Volvo back on track: above all, he wants to save and again more cars in the USA Have it produced to escape the tariffs there.
In the first quarter of 2025, Volvo’s turnover decreased by 12 percent to 82.9 billion Swedish crowns, the equivalent of 7.6 billion euros. The operational return on sales was only 2.3 percent and was therefore lower than with many mass manufacturers.
At the end of April, Samuelsson had presented a comprehensive savings program with which the costs are reduced by 18 billion Swedish crowns and investments are to be reduced. Even then, Volvo had announced that layoffs were inevitable. For the package, special costs of around 1.5 billion crowns are due, which are booked in the second quarter. According to the latest quarterly report, the car manufacturer employed 43,500 full -time employees in the first quarter and 3,000 temporary workers.
Focus on electric and new geely strategy
Volvo had a focus early on Batteries electric cars and in recent years suffered from high costs for the battery materials. Because the ride of pure electric cars stalls at Volvo, the company will again focus on plug-in hybrids in the future. These are a pragmatic bridge for customers who have not yet been ready for the entire change, it said. In the first quarter, the proportion of pure electric cars at Volvo was 19 percent and thus two percentage points lower than a year earlier.
In addition, Geely pursues a new strategy and wants to integrate Volvo more into the parent company: So far, Volvo has developed and at least developed the platforms for its vehicles. In the future, all brands associated with Geely should only build on two platforms, both of which are placed by Geely: a big one and a small one. Unlike predecessor Rowan, Samuelsson has already announced in one of his first interviews, more direction China To bind and work more closely with Geely.