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Euronews
Euronews
Doloresz Katanich

Volvo Cars announces 2,500 job cuts as it swings to quarterly loss

Sweden-based carmaker Volvo Cars said on Friday it would cut about 2,500 jobs worldwide, as US tariffs and strong competition from local brands in China pushed it into a third-quarter loss.

The company, majority-owned by Chinese group Geely, reported revenue of 66.9 billion kronor (€6bn) for the third quarter, down nearly 23% from the same period last year.

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