The Volvo truck division will eliminate 4400 jobs

The vehicle manufacturer Volvo AB announces that it has this year a total of 4,400 layoffs; 2,000 of them have already been announced.

This news has been confirmed on Thursday as the company reported a decline of 37 per cent of its net profit for the 4th quarter.

The president and chief operating officer of Volvo, Olof Persson, has specified that the layoffs will affect the global activities of the division of trucks, even the areas of technology, sales, marketing and human resources.

Despite the decline of profits, sales of the Volvo company have increased, as those trucks brand.