Volvo cuts 1,000 jobs as China sales dip
Stockholm (AFP) Feb 5, 2015 - Sweden's Volvo, the world's second-largest maker of trucks, reported a sharp fall in annual profits Thursday and announced 1,000 redundancies in its construction equipment business which was hit by falling demand from China. The group's net profits plunged 41 percent in 2014 to 2.1 billion kronor ($254 million, 223 million euros) compared to the previous year, largely due to a 30 percent d ... more
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