**Volvo Cars Cuts 3,000 Jobs Amid Industry Challenges**

Volvo Cars, headquartered in Sweden, is set to slash 3,000 jobs as part of a comprehensive cost-cutting strategy in response to mounting trade tensions and economic uncertainties affecting the automotive sector.

The company announced on Monday that approximately 1,200 of the reductions will affect its Swedish workforce. Additionally, 1,000 roles currently filled by consultants, predominantly in Sweden, will also be eliminated. The remaining job cuts will impact other global markets. Most of the eliminated positions are office roles.

“These actions have been difficult decisions, but they are important steps as we build a stronger and even more resilient Volvo Cars,” stated Håkan Samuelsson, Volvo Cars president and CEO. “The automotive industry is in the middle of a challenging period. To address this, we must improve our cash flow generation and structurally lower our costs.”

The decision comes as car manufacturers worldwide grapple with increased raw material costs, a shrinking European car market, and the U.S. President's 25% tariffs on imported cars and steel. Volvo, which is owned by China's Geely, employs 42,600 full-time staff and has major operations in Gothenburg, Belgium, South Carolina, and China.