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Core Viewpoint - Volvo is undergoing significant restructuring, including a reduction of approximately 3,000 jobs, which represents about 15% of its white-collar workforce, as part of a cost-cutting initiative aimed at enhancing operational resilience amid rising costs and declining sales [1] Group 1: Job Cuts and Cost-Cutting Measures - Volvo plans to cut around 3,000 jobs, primarily affecting employees in Sweden, as part of a broader cost and cash action plan valued at 18 billion Swedish Krona (approximately 1.9 billion USD) [1] - The company reported a 60% decline in operating profit for Q1 2025 and an 11% drop in global sales in April compared to the previous year, highlighting the impact of tariffs and rising material costs [1] Group 2: Leadership Changes - In March 2025, Volvo's board reinstated former CEO Håkan Samuelsson, who had previously led the company from 2012 to 2022, to ensure stability during the transition period [2] - Samuelsson's appointment comes as the company seeks a long-term successor while navigating its electric vehicle (EV) strategy [2] Group 3: Electric Vehicle Strategy - Volvo has adjusted its 2030 target for electric vehicle sales, now aiming for 90% to 100% of total sales to be electric vehicles (including both fully electric and plug-in hybrid models) [3] - The company plans to launch seven new models in 2025, including three fully electric vehicles, three fuel models, and one hybrid SUV, as part of its ongoing electrification efforts [4]