Volvo doubles job cuts to meet savings target

Note: This section contains information in English only.
Source: Bloomberg
Volvo AB, the second-largest truck manufacturer in the world, plans to increase the previously planned job cuts from 2,000 to 4,400, as the company wants to bring annual savings to 4 billion kronor, starting from 2015. The reorganization will cost the company about 5 billion kronor. On such news, Volvo AB stocks are jumping 4.3% to 89.20 kronor per share by 11:20 GMT in Stockholm.

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