Overview

• The cuts affect about 3,000 office-based roles worldwide, with around 1,200 positions in Sweden and roughly 15% of its office staff overall.
• The restructuring follows an April announcement of an 18 billion kronor cost and cash action plan to tackle slowing electric-vehicle demand, rising raw-material expenses and US tariffs.
• Volvo will eliminate approximately 1,000 consultant roles, most of which are based in Sweden, as part of a broader organisational review to lower structural costs.
• The company expects a one-time restructuring charge of up to 1.5 billion kronor, impacting second-quarter results and extending into late 2025 and 2026.
• Volvo aims to finalise the structural changes by autumn 2025 to strengthen resilience and support its transition to a fully electric-vehicle lineup.