Marie Mannes

1 week ago | usatoday.com | Marie Mannes

Volvo Cars VOLCARb.ST said on Wednesday it would make production changes and cut 5% of the workforce at its Charleston plant in the United States due to changing market conditions and evolving trade policies, including tariffs. A spokesperson for Volvo Cars said the changes would affect about 125 of the 2,500 employees at its factory in South Carolina. It was not immediately clear which positions would be affected or how the cuts would affect production at the plant in Charleston.

1 week ago | tennessean.com | Marie Mannes

Marie MannesReutersVolvo Cars VOLCARb.ST said on Wednesday it would make production changes and cut 5% of the workforce at its Charleston plant in the United States due to changing market conditions and evolving trade policies, including tariffs. A spokesperson for Volvo Cars said the changes would affect about 125 of the 2,500 employees at its factory in South Carolina.

1 week ago | today.westlaw.com | Terje Solsvik |Marie Mannes |Sharon Singleton |Louise Breusch Rasmussen

STOCKHOLM (Reuters) - Volvo Cars' battery company Novo Energy said on Monday it will cut its workforce by 50% to reduce costs after evaluating its business to take account of the bankruptcy of Sweden's Northvolt, which originally co-owned the...

2 weeks ago | zawya.com | Marie Mannes |Nick Carey |Alessandro Parodi

STOCKHOLM - Under pressure from U.S. President Donald Trump's tariffs, Volvo Cars' new CEO Hakan Samuelsson is juggling the task of working with Chinese majority owner Geely to cut costs with attempting to keep selling cars to U.S consumers. European carmakers in general are increasingly struggling to balance the demands of divergent markets. Despite tariffs, they are seeking to sell imported cars to U.S consumers, who favour hybrids and combustion-engine models.

2 weeks ago | money.usnews.com | Marie Mannes

By Marie MannesSTOCKHOLM (Reuters) -Volvo Cars announced 18 billion Swedish crowns ($1.87 billion) in cost cuts and a restructuring of its U.S. operations on Tuesday and withdrew its earnings forecast for the next two years, sending shares down 10%. The group, one of the most exposed European automakers to U.S. tariffs as most of the cars it sells there are imported from Europe, said the trade measures had hit its first-quarter operating profit, which fell 60% to 1.9 billion crowns.