Volvo Cars cuts 2,500 jobs worldwide to reduce costs, factory in Ghent examines impact

Volvo Cars plans to cut 2,500 jobs globally, primarily in Sweden, due to rising costs and external challenges. The company aims to reduce expenses by €450 million, citing competition and economic factors. The impact on the Gent factory remains uncertain, as the company evaluates potential effects on its operations there. CEO Håkan Samuelsson emphasizes the need for a long-term strategy to navigate these challenges. This is not the first job reduction for Volvo, as a previous restructuring in 2025 eliminated around 3,000 positions. The future of the Gent site, which employs over 6,300 workers, is still unclear, despite recent commitments to its future.