Volvo Cars has announced plans to cut approximately 3,000 jobs, primarily targeting white-collar positions, as part of a significant cost-cutting initiative aimed at boosting efficiency and addressing economic challenges. The decision comes in the wake of a recent profit plunge and ongoing uncertainty in the auto market due to factors such as tariffs and trade issues. This restructuring effort is intended to help the Swedish company, now under Chinese ownership, build a more resilient business model in an increasingly competitive environment.