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International Business Times

Business

Etienne FONTAINE

Swedish Battery Maker Northvolt To Slash 1,600 Jobs, Quarter Of Staff

Northvolt Sweden Peter Carlsson Volkswagen

Northvolt Ett factory in Skelleftea will see 1,000 jobs cut as part of cost savings plan by the Swedish company (Credit: AFP)

Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand.

The loss of 1,600 jobs in Sweden comes as electric car sales slump in Europe and the continent lags far behind China in battery production.

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