Carmaker Volvo cuts 3,300 jobs ( 29 Views )

1. Swedish carmaker Volvo said Wednesday it was cutting 3,300 jobs, about 12 percent of its workforce. Volvo is cutting 2,700 white-collar and blue-collar jobs in Sweden and 600 outside the country, the company said. The company's workforce at the end of 2007 was almost 25,000. The carmaker announced about 2,000 job cuts in June. "These are difficult times for the car industry in general, including Volvo," said Stephen Odell, the president and chief executive of Volvo Cars. "These actions are necessary to create a new and sustainable Volvo Car Corporation -- a company with more focused operations and structure." The downturn in the global car industry has been more drastic than expected, Odell said.
   
   (levent, Turkey)

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