On June 17th Volvo said it planned to cut about 4,100 jobs worldwide in the second half of this year.Consultants will account for about 15 per cent of the job cuts and about 1,250 in Sweden.

    From January to May 2020, Volvo sold a total of 208,479 new cars worldwide, down 25% from the same period last year.China was Volvo's only global single market for sales growth in May, with 15,132 new cars sold in the month, up 21.8 percent from a year earlier.Volvo said its global sales have been affected by the COVID-19 outbreak.The Volvo group wants to focus more on new technologies and business models.

    Since mid-April, Nissan, Honda and Toyota have announced plans to cut more than 32,000 jobs in their U.S. operations.At the end of May, Europe saw its second wave of job cuts since the COVID-19 outbreak.Britain's ultra-luxury brands Bentley, Aston Martin and Mclaren have taken the lead.At the beginning of June, Aston Martin announced that it would cut up to 500 jobs, or about 20 per cent of its workforce, as part of a £10m cost-cutting programme.Bentley's UK base is shedding 1,000 "voluntary" jobs, about a quarter of its workforce, and compulsory redundancies have not been ruled out.

    Tata Motors' fiscal fourth quarter (Q1 2020) revenue fell nearly 28% to 629.43 billion rupees (58.69 billion yuan) as the company swung to a loss of 98.94 billion rupees (9.24 billion yuan) from a net profit of 11.17 billion rupees (1.04 billion yuan) a year earlier.

    The U.K. business lost about 500 million pounds in the fourth quarter, hurt by a drop in JLR sales.JLR expects to cut almost 1,100 jobs, all in the UK, as it seeks to cut costs further.Jaguar Land Rover recently announced plans to cut its global workforce of 40, 000 by almost half, but not in China.

    French carmaker Renault plans to cut 1,500 engineering jobs in France as part of a cost-cutting plan announced last month, a union source said.The plan aims to cut costs by €2bn over the next three years.

    The company announced a cost-cutting programme in early May and is preparing to cut 15,000 jobs worldwide, including nearly 4,600 in France and more than 10,000 elsewhere.

    The company, which employs 180,000 people, is in talks with the French government over a bailout.In addition, the company will reduce global capacity to 3.3 million vehicles by 2024 from 4 million in 2019