STOCKHOLM, Feb 6 (AFP): Swedish truck maker Volvo is cutting 2,400 jobs in addition to 2,000 cuts the group announced in October, hoping to boost falling profitability it said on Thursday.
The group faced a tough 2013, with sales falling by 9.0 per cent from the 2012 level to 272.6 billion kronor (30.9 billion euros, $41.7 billion), the truck market being closely linked to economic activity.
Annual net profit fell by two thirds to 3.80 billion kronor. Volvo is the second-biggest truck maker in the world after Daimler of Germany.
The job cuts-affecting management, administrative staff and consultants worldwide-are part of a restructuring launched in September and "a majority will be implemented during 2014," the company said in a statement.
Volvo announces 2,400 more job cuts as truck sales drop
FE Team | Published: February 07, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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