Swedish carmaker Volvo Cars plans to cut thousands of administrative jobs as part of a cost-cutting drive.
The company confirmed that 3,000 jobs will be cut worldwide, representing about 15 percent of its office jobs in Sweden.
Volvo CEO Hakan Samuelsson said the cost-cutting decision was made because the auto industry is going through a difficult phase.
Volvo will focus on pure battery electric vehicles (BEVs) and has been facing high costs for battery materials lately.
The organization is also focusing on plug-in hybrids as the increase in electric vehicles has stalled.
Volvo's share of electric vehicles in the first quarter was 19 percent, compared to two percentage points higher a year earlier.
