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Geely's Subsidiary to Cut 3,000 Jobs Amid High Costs and Weaker Demand
GELYYGEELY AUTO(GELYY) ZACKS·2025-05-27 20:45

Geely Automobile Holdings Limited’s (GELYY) subsidiary, Volvo Cars, is set to cut 3,000 mostly white-collar jobs as part of a restructuring effort first revealed last month as it struggles with high costs, weakening demand for electric vehicles, and growing trade uncertainty.The job cuts come as the Swedish automaker attempts to revive its struggling share price and boost demand. CEO Hakan Samuelsson, who returned to lead the company after previously serving as CEO until 2022, introduced a cost-cutting plan ...