SAN FRANCISCO—Volvo Car Corp., the lone remaining part of Ford Motor Co. 's high-end auto unit, is cutting 2,000 jobs as it faces a declining U.S. market, rising materials costs and weaker conditions in Europe.

The layoffs, which include 1,400 white-collar employees and 600 hourly workers, are part of a broader cost-reduction plan aimed at paring expenses by about $700 million.

"This is an unfortunate but necessary action if we are to achieve... // Chicago Tribune

Göteborg, Sweden – Volvo has announced that it is cutting 2,000 jobs worldwide as part of an extensive cost reduction program. The move will affect 1,400 white-collar and 600 blue-collar jobs in Sweden.

The notice includes 1,200 employees at Volvo Car Corporation, 45 employees at Volvo Car Sweden, and 50 employees at Volvo Cars Body Components. The company will also cancel contracts with approximately 500 consultants, and plans to reduce its workforce by 300 people abroad.

The company attributes the job cuts to negative currency effects, mainly due to the weak U.S. dollar, and increasing raw material prices which it said “have for a long time had a significant impact on Volvo Cars’ financial situation.†The company reported a financial loss of US$151 million... // CanadianDriver

STOCKHOLM, Sweden, Jun 25, 2008 (UPI via COMTEX) -- VOLVY | Quote | Chart | News | PowerRating -- Volvo Cars said Wednesday it would cut 1,200 jobs including the entire third shift of a car plant in Gothenburg, Sweden.

The company also said it cut 300 overseas white color jobs and terminated a contract with 500 consultants, the Swedish news service Tidningarnas Telegrambyra reported.

News of the job losses halted production at the Torslanda plant in Gothenburg for six minutes, the news... // Trading Markets

The Swedish carmaker Volvo is to shed 1,200 jobs in its Swedish home base, the company announced in Gothenburg.

The company, which is owned by United States carmaker Ford, is laying off 1,200 employees in Gothenburg on Sweden's west coast and Olofstrom in the south of Sweden.

The jobs which are to be cut are in the production and personnel departments, according to the statement.

Volvo Car Chief Executive Fredrik Arp said the measure was an attempt to adjust to "difficult market conditions."

Volvo with its emphasis on luxury cars is experiencing market challenges,... // The Age