Volvo Cars is restructuring its U.S. and Canadian operations as part of an $88 million global effort to tighten spending, drive efficiencies and update its work force for an all-electric future.
Volvo Car USA and Canada President Michael Cottone said the initiative, code-named CORE+, is "all-encompassing."
"There's not any area of the business that is not impacted," Cottone told Automotive News. "We have [many] different reports and jobs, and we're looking at them to make sure these are the ones that give us the biggest impact and put our resources toward them."
The Swedish automaker is cutting more than 10 percent of its nearly 1,000 white-collar work force in the U.S. and Canada, a source briefed on the plan told Automotive News. Volvo will also trim its regional ranks through early retirement offers. The head count reduction is expected to take effect by early October.
Adam Clarke, Volvo’s head retail network development and customer experienc…