Volvo Cars to slash more than 3,000 jobs

Wed Oct 8, 2008 3:58 AM EDT
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STOCKHOLM — Volvo Cars says it plans to slash more than 3,000 jobs because of decreasing demand.

The company, which is owned by U.S. automaker Ford, says around 2,000 blue-collar employees and 700 white-collar staff will lose their jobs in Sweden. Another 600 employees will be fired abroad.

Volvo Cars said Wednesday some 700 contracts with consultants will be terminated.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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