Volvo plans to lay off 1300 employees in Sweden. Cuts also driven by the increase in the cost of raw materials

STOCKHOLM. Automotive company Volvo Cars has announced plans to lay off 1,300 employees in Sweden. According to reports from Sveriges Radio, these are employees and not workers. In a press release, the company specified the need to reduce expenses and increase efficiency. Volvo Cars CEO Jim Rowan explained that the staff cuts are due to the economic situation and the increase in raw material costs and the growing competitiveness which, according to company estimates, will still continue to impact the industry automotive.