Ford's Volvo to lay off up to 1,500 workers

Newswire

DETROIT, Aug 23 (Reuters) - Ford Motor Co.'s Volvo Cars division plans to lay off up to 1,500 workers, or 5 percent of its global work force this year, part of an effort to cut costs by more than $130 million, a company spokesman told Reuters on Tuesday. Volvo, purchased by Ford in 1999, has been hit hard by a weak U.S. dollar and strong competition in the U.S. market, Volvo spokesman Olle Axelsson said. U.S. sales at Volvo, whose solidly built cars are marketed to upper middle class ...

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