Swedish automaker Volvo Cars will close its office in Stockholm as part of a cost-cutting program. The company announced this:
“Volvo Cars has decided to concentrate its professional capabilities and resources in Sweden in fewer locations, transferring most of the responsibilities of the Stockholm office to the company’s headquarters in Gothenburg. As a result, the Stockholm office will close on March 1, 2027,” the company stated.
It is noted that around 450 employees work at the office. According to the company, the closure of the office in the capital will allow for increased cost efficiency.
Earlier, the company had cut approximately 3,000 jobs as part of its cost-cutting measures.
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