Volvo Cars plans 2,500 more job cuts after quarterly loss
Volvo Cars posted a 3.7 billion Swedish-crown adjusted operating loss, doubled its cash burn and announced 2,500 additional job cuts.
By TomorrowNews · AI-assisted briefing · Briefing published 24 October 2026
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The carmaker’s shares fell 24% after the report. Most of the new reductions will be in Sweden and are expected to be completed by mid-2027, adding to an earlier restructuring program.
Volvo blamed weak Chinese demand, tariff pressure and a slower-than-planned ramp-up of the EX60 electric SUV. The company still held more than 30 billion crowns in cash, but analysts warned that continued cash burn could increase pressure on its balance sheet.
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This is an original summary, not a republication of the full report.
