Volvo steps up cost cuts as global truck sales slide

Sep 25, 2013 | 03:08 PM | Corinna Petry

Tags  Volvo, truck business, restructuring, North American unit sales, layoffs, Corinna Petry

CHICAGO — AB Volvo will lay off white-collar employees and consultants as part of a company-wide restructuring program to improve efficiency and reduce costs, particularly in its trucks business.

The Swedish manufacturer expects the program to result in annual savings of about 4 billion kronor ($622.1 million). The full effect of the savings will be felt by the end of 2015, the company said Sept. 24.....

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