Volvo Cars plans to eliminate another 2,500 jobs after cutting 3,000 roles earlier this year, as the Swedish automaker seeks $500 million in savings amid mounting pressure from Chinese rivals, weak demand and tariff-related headwinds. Shares were down 26% after the automaker said it would cut another 2,500 jobs—around 6% of its workforce—amid worsening market conditions. Swedish carmaker Volvo Car AB has announced a major cost-cutting move to protect its profits.