In an attempt to cut costs and improve efficiency, Volvo Cars will close its Stockholm office on March 1, 2027 and relocate responsibilities to its Gothenburg HQ, Reuters reports. The company said in a statement that it “will manage the process in close dialogue with employees and employee representatives.”
Concentrating resources across fewer Swedish sites would help reduce complexity, speed up cross-functional collaboration and improve competitiveness, the carmaker said yesterday. Currently, 450 people work at the office in the Swedish capital, which was established to build expertise in areas such as software development, AI and digital customer experience.
According to Reuters, it’s not immediately clear how many jobs would be cut as a result of the move, but Volvo Cars did say last year that it plans to cut 3,000 mostly white-collar jobs globally amidst high costs, slowing EV demand and trade uncertainty.
It said then that the SEK18 billion (RM7.6 billion) action plan “includes the creation of a leaner, more efficient organisation with a structurally lower cost base”, aimed at building “a stronger and even more resilient Volvo Cars at a time when the automotive industry is facing considerable challenges in its external environment.”
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Insert Stockholm Syndrome joke
Europe is dead
Slowing EV demand? Hahaha.. back at your face.
Those believing the “Swedish car” lies is a joke.