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To meet the rapidly deteriorating market situation in the global car industry, the management team at Volvo Car Corporation has decided to initiate further structural changes in all parts of the business.
The Swedish Public Employment Service has been informed of additional redundancies affecting around 2,000 blue collar employees and 700 white collar employees in Sweden. Outside Sweden, an additional 600 employees will be made redundant and some 700 contracts with consultants will be terminated.
"These are difficult times for the car industry in general, including Volvo. These actions are necessary to create a new and sustainable Volvo Car Corporation - a company with more focused operations and structure," says president and CEO of Volvo Car Corporation, Stephen Odell.
But Roula Beiruty, marketing manager of Volvo Cars ME, said: "We are aware of the severity of the crisis that the world is facing and are doing all that is necessary to ensure that no restructuring will take place in the region."
