Volvo , owned by Ford Motor Company, hasn’t been spared the woes afflicting the Blue Oval, either. The automaker said earlier this summer that it will have to cut 2,000 jobs at its Torslanda, Sweden, factory, and now comes news that another 900 jobs will need to be cut next year.
Volvo will eliminate the third shift at its Torslanda plant, which builds the S80 sedan, V70 and XC70 wagons and the XC90 SUV, by October. The Swedish automaker cited weak product demand and soaring raw material costs for the job-cutting decisions.
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