Volvo Group to cut 4,100 white-collar jobs in response to financial issues

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Volvo Group announced last Tuesday plans to cut jobs in response to financial issues due to COVID-19.

The Triad Business Journal reported the truck maker is expected to trim its Triad workforce by 450 jobs in the second half of 2020.

“The COVID-19 crisis is expected to have a negative effect on economic activity in many of the Volvo Group’s major markets in the short and medium term,” the company said in a press release. “Volvo has continuously adjusted its operations to lower demand from record levels in the first half of 2019 by utilizing the installed flexibility, while at the same time accelerating the transformation towards sustainable transport solutions.”

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