Internal restructuring
Location of affected unit(s)
Sweden, France + other countries
Manufacture For Transport Equipment
Manufacture Of Motor Vehicles, Trailers And Semi-Trailers
29.10 - Manufacture of motor vehicles

4,100 jobs
Number of planned job losses
Job loss
Announcement Date
16 June 2020
Employment effect (start)
16 June 2020
Foreseen end date


The Swedish truckmaker Volvo has announced a worldwide restructuring to cope with the consequences of the coronavirus pandemic that will lead to the loss of 4,100 mainly white-collar positions.  About  1,250 job cuts are planned in Sweden, while 463 other jobs will be cut in its French subsidiary Renault Trucks. According to Volvo, the pandemic and measures to curb the spread of the Covid-19 have severely impacted sales. 'The effects are expected to be lower demand going forward and we need to continue to adjust our organisation accordingly,' according to Martin Lundstedt, CEO of the Volvo Group. Volvo highhlighted that 'staff reductions would have been higher without various governmental support packages enabling short-term layoffs and other similar measures'. Job reductions would be carried out across the group but the details would depend on 'the local business situation, country legislation and labour market practices', adds the company.



Eurofound (2020), Volvo, Internal restructuring in World, factsheet number 100960, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/100960.