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Volvo carries out massive layoffs

The cuts will not affect production workers, at least at this stage. On the other hand, Volvo intends to abandon some of the consultants involved and a number of services, thereby reducing costs. In parallel, the automaker plans to improve the efficiency of global operations.

Volvo’s chief executive officer Jim Rowan said the automotive industry continues to struggle due to adverse economic factors such as rising commodity prices and increased competition.

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