Volvo eliminates 2,500 jobs after a loss of 330 million euros

Volvo announced the elimination of 2,500 jobs due to a significant financial loss of 330 million euros, leading to a nearly 30% drop in its stock value. The job cuts primarily affect its operations in Sweden and come after the company reported an operational loss of 3.7 billion Swedish crowns in the third quarter, contrasting sharply with a profit of 5.8 billion crowns in the same period last year. This performance fell well below analysts' expectations, which had predicted a smaller loss.