Latest news with #S90
The Irish Sun
27-05-2025
- Automotive
- The Irish Sun
Major car brand ‘facing challenging period' to axe 3,000 jobs in huge restructure to cut costs
A MAJOR car brand is facing a "challenging period," with a huge restructuring plan set to axe 3,000 jobs in a bid to cut costs. The popular car manufacturer blamed rising costs, slowing demand for electric vehicles, and uncertainty over Advertisement 1 Volvo is set to axe 3,000 jobs in a major restructuring Credit: Getty Volvo revealed that most of the job cuts will affect office-based staff in Sweden, which is around 15 per cent of its global office workforce. The cuts will affect about 1,200 employees and 1,000 consultants, the automaker said. CEO Håkan Samuelsson said the cuts would help improve the automaker's cash flow and reduce overall costs. He added: "It's white collar in almost all areas, including R&D, communication, human resources. Advertisement read more on motors "So it's everywhere, and it's a considerable reduction." Fredrik Hansson, Volvo's new CFO, said that despite thousands of job cuts, the move would make the company 'structurally more efficient.' Volvo's restructuring will cost an eye-watering £103million, which will impact its second-quarter results. The popular car brand is introducing these sweeping cuts following reports of a 60 per cent dip in their first-quarter operating income. Advertisement Most read in Motors Falling sales and revenues add pressure The announcement follows a turbulent few months for Volvo, based in Gothenburg, Sweden. Global deliveries slumped by 6 per cent in the first quarter of 2025 compared to last year, causing revenue to drop by 11.7 per cent, from £7.3bn to £6.4bn, according to Meet the new XC90 plug-in hybrid, an electric car with a backup plan The automaker is facing what it describes as 'challenges not seen before' in the automotive sector, with rising costs, supply chain disruptions, and cooling demand weighing heavily on performance. Former CEO Håkan Samuelsson, recently reinstated after Jim Rowan's exit, is leading the shake-up. Advertisement Samuelsson warned: "The automotive industry is in the middle of a very difficult period with challenges not seen before. "We must get better at delivering results." Investment cuts and uncertain forecasts Volvo also revealed it is scaling back investments further, following a big drop in earnings before interest and tax , plunging from £370m to £120m year-on-year. The company will stop providing financial forecasts for 2025 and 2026, saying market conditions remain too uncertain. Advertisement The cost-saving strategy includes a shift toward regionalised operations. Volvo recently launched an updated S90 saloon exclusively for China and started building the EX30 electric crossover at its Ghent plant in Belgium, previously made only in China. It also plans to sharpen its model range in the US and optimise production at its Spartanburg facility in South Carolina. Samuelsson added: "While our strategy is clear, we must adapt quickly to survive. Advertisement "Our focus now is profitability, electrification and regionalisation. Volvo's announcement follows a growing trend of major job cuts across the global automotive industry as companies brace for a tough market environment. Audi also revealed plans to axe 7,500 jobs as part of a huge cost-saving drive. The Volkswagen-owned manufacturer announced the cuts would be carried out at its German sites by 2029, aiming to save around €1 billion (£842.5 million) annually in the medium term. Advertisement The job cuts at Audi represent about 8.6 per cent of the brand's global workforce. Audi said in a statement: 'The economic conditions are becoming increasingly tougher, competitive pressure and political uncertainties are presenting the company with immense challenges.' The carmaker, headquartered in Ingolstadt, said the reductions would mostly affect areas such as administration and development. Audi stressed that the cuts would be implemented in a "socially responsible" manner, avoiding compulsory redundancies. Advertisement Instead, roles will be reduced through natural attrition — meaning workers will not be replaced when they retire or leave the company. Despite the cuts, Audi is investing heavily in its German operations, pledging €8 billion (£6.7 billion) over the next four years. Part of the investment will go towards producing a new entry-level electric model at its Ingolstadt plant, with further developments considered for its second German site in Neckarsulm. Audi's chairman Gernot Döllner said: 'We are setting Ingolstadt and Neckarsulm up to be robust and flexible for the challenging transition to electric mobility. Advertisement Audi must become faster, more agile, and more efficient. One thing is clear: this cannot be done without personnel adjustments. Meanwhile, Audi's parent company Volkswagen announced back in December that it would cut 35,000 jobs at its VW brand sites across Germany by 2030. The job reductions are part of the 'Future Volkswagen' agreement, hammered out with union representatives to help slash labour costs by €1.5 billion (£1.25 billion) per year. Volkswagen emphasised that the job cuts would not involve any plant closures and would also be implemented 'socially responsibly'. Advertisement Volkswagen's plan also includes a significant capacity reduction, aiming to lower production volumes by around 734,000 units across its German manufacturing network. Everything you need to know about electric cars How long does it take to Will Do How long do Check out all of our latest electric car news here
Scottish Sun
27-05-2025
- Automotive
- Scottish Sun
Major car brand ‘facing challenging period' to axe 3,000 jobs in huge restructure to cut costs
Check below to read more on electric vehicles DEAD END Major car brand 'facing challenging period' to axe 3,000 jobs in huge restructure to cut costs A MAJOR car brand is facing a "challenging period," with a huge restructuring plan set to axe 3,000 jobs in a bid to cut costs. The popular car manufacturer blamed rising costs, slowing demand for electric vehicles, and uncertainty over trade tariffs for its decision to cut jobs. Advertisement 1 Volvo is set to axe 3,000 jobs in a major restructuring Credit: Getty Volvo revealed that most of the job cuts will affect office-based staff in Sweden, which is around 15 per cent of its global office workforce. The cuts will affect about 1,200 employees and 1,000 consultants, the automaker said. CEO Håkan Samuelsson said the cuts would help improve the automaker's cash flow and reduce overall costs. He added: "It's white collar in almost all areas, including R&D, communication, human resources. Advertisement "So it's everywhere, and it's a considerable reduction." Fredrik Hansson, Volvo's new CFO, said that despite thousands of job cuts, the move would make the company 'structurally more efficient.' Volvo's restructuring will cost an eye-watering £103million, which will impact its second-quarter results. The popular car brand is introducing these sweeping cuts following reports of a 60 per cent dip in their first-quarter operating income. Advertisement Falling sales and revenues add pressure The announcement follows a turbulent few months for Volvo, based in Gothenburg, Sweden. Global deliveries slumped by 6 per cent in the first quarter of 2025 compared to last year, causing revenue to drop by 11.7 per cent, from £7.3bn to £6.4bn, according to Autocar. Meet the new XC90 plug-in hybrid, an electric car with a backup plan The automaker is facing what it describes as 'challenges not seen before' in the automotive sector, with rising costs, supply chain disruptions, and cooling demand weighing heavily on performance. Former CEO Håkan Samuelsson, recently reinstated after Jim Rowan's exit, is leading the shake-up. Advertisement Samuelsson warned: "The automotive industry is in the middle of a very difficult period with challenges not seen before. "We must get better at delivering results." Investment cuts and uncertain forecasts Volvo also revealed it is scaling back investments further, following a big drop in earnings before interest and tax, plunging from £370m to £120m year-on-year. The company will stop providing financial forecasts for 2025 and 2026, saying market conditions remain too uncertain. Advertisement The cost-saving strategy includes a shift toward regionalised operations. Volvo recently launched an updated S90 saloon exclusively for China and started building the EX30 electric crossover at its Ghent plant in Belgium, previously made only in China. It also plans to sharpen its model range in the US and optimise production at its Spartanburg facility in South Carolina. Samuelsson added: "While our strategy is clear, we must adapt quickly to survive. Advertisement "Our focus now is profitability, electrification and regionalisation. Volvo's announcement follows a growing trend of major job cuts across the global automotive industry as companies brace for a tough market environment. Audi also revealed plans to axe 7,500 jobs as part of a huge cost-saving drive. The Volkswagen-owned manufacturer announced the cuts would be carried out at its German sites by 2029, aiming to save around €1 billion (£842.5 million) annually in the medium term. Advertisement The job cuts at Audi represent about 8.6 per cent of the brand's global workforce. Audi said in a statement: 'The economic conditions are becoming increasingly tougher, competitive pressure and political uncertainties are presenting the company with immense challenges.' The carmaker, headquartered in Ingolstadt, said the reductions would mostly affect areas such as administration and development. Audi stressed that the cuts would be implemented in a "socially responsible" manner, avoiding compulsory redundancies. Advertisement Instead, roles will be reduced through natural attrition — meaning workers will not be replaced when they retire or leave the company. Despite the cuts, Audi is investing heavily in its German operations, pledging €8 billion (£6.7 billion) over the next four years. Part of the investment will go towards producing a new entry-level electric model at its Ingolstadt plant, with further developments considered for its second German site in Neckarsulm. Audi's chairman Gernot Döllner said: 'We are setting Ingolstadt and Neckarsulm up to be robust and flexible for the challenging transition to electric mobility. Advertisement Audi must become faster, more agile, and more efficient. One thing is clear: this cannot be done without personnel adjustments. Meanwhile, Audi's parent company Volkswagen announced back in December that it would cut 35,000 jobs at its VW brand sites across Germany by 2030. The job reductions are part of the 'Future Volkswagen' agreement, hammered out with union representatives to help slash labour costs by €1.5 billion (£1.25 billion) per year. Volkswagen emphasised that the job cuts would not involve any plant closures and would also be implemented 'socially responsibly'. Advertisement Volkswagen's plan also includes a significant capacity reduction, aiming to lower production volumes by around 734,000 units across its German manufacturing network.
Yahoo
20-05-2025
- Business
- Yahoo
Haier and KEF Announce Global Partnership to Co-Engineer Immersive Audio for Haier Smart TVs
QINGDAO, China, May 20, 2025 /PRNewswire/ -- Haier, a global leader in household appliances, today officially announces a strategic partnership with KEF, the world-renowned audio technology brand. Haier and KEF will jointly engineer the audio systems for Haier's latest Mini LED and QLED TV models, including the Haier TV M96, M92, M80 and S90 series. These models[1] will be launched throughout 2025, covering key markets such as India, Pakistan, Bangladesh, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Spain, Saudi Arabia and Egypt. Together, Haier and KEF will deliver an unparalleled home entertainment experience to consumers around the world. Under this exciting partnership, the sound systems of these Mini LED and QLED TV series are co-designed by Haier and KEF, and have been meticulously tuned by the same KEF engineering team responsible for their flagship loudspeakers, including Blade and The Reference. Leveraging KEF's over 60 years of acoustic engineering expertise, these Haier TV models seamlessly integrate high-end audio experiences, making it more accessible and convenient for home entertainment scenarios. The Haier M96 series of 4K QD-Mini LED TVs, the flagship model for 2025, made its debut at the 2025 Australian Open earlier this year. Its enhanced visual and audio capabilities captivated millions of tennis enthusiasts at Melbourne Park and central Melbourne through Haier TV's fan engagement booths and activities. Benefiting from KEF's expert tuning, the M96 series boasts a 2.2.2-channel audio system for the 75-inch and 85-inch models, and an impressive 6.2.2-channel system for the 100-inch model, delivering a truly high-fidelity audio experience, right in the living room. The Haier M80 series of 4K Mini LED TVs, which officially launched in India in April, is scheduled to roll out across key markets in the coming months. Co-engineered with KEF, the Haier TV M80 series delivers clear highs, rich mids, and deep, elastic bass through its 2.1-channel speaker system. Available in multiple sizes—85, 75, 65, and 55 inches—the M80 series caters to a variety of home entertainment needs. "We are honored to partner with KEF on a global scale," said Junguang Liu, Vice President of Haier Smart Home, General Manager of Audio-Visual BU. "This collaboration seamlessly merges our smart home expertise with KEF's renowned audio technology, delivering an immersive and high-quality sound experience. Together, we are bringing next-level home entertainment to our consumers worldwide." Grace Lo, president and head of global marketing at KEF, commented: "We are delighted with our partnership with Haier TV. By combining KEF's acoustic technology with Haier TV's innovative capabilities in the field of home appliances, we are poised to provide users with a new immersive audio-visual experience with their latest TVs. We look forward to collaborating on more breakthrough audio-visual products together in the near future." This partnership marks the beginning of a shared journey. Both Haier and KEF are dedicated to elevating home entertainment and delivering unparalleled experiences. As a result of this innovative collaboration, consumers can anticipate more Haier TV products featuring KEF co-engineered audio in the near future. [1] The availability of specific models in certain markets may be subject to change. View original content to download multimedia: SOURCE Haier Smart Home Sign in to access your portfolio
Cision Canada
20-05-2025
- Business
- Cision Canada
Haier and KEF Announce Global Partnership to Co-Engineer Immersive Audio for Haier Smart TVs
QINGDAO, China, May 20, 2025 /CNW/ -- Haier, a global leader in household appliances, today officially announces a strategic partnership with KEF, the world-renowned audio technology brand. Haier and KEF will jointly engineer the audio systems for Haier's latest Mini LED and QLED TV models, including the Haier TV M96, M92, M80 and S90 series. These models [1] will be launched throughout 2025, covering key markets such as India, Pakistan, Bangladesh, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Spain, Saudi Arabia and Egypt. Together, Haier and KEF will deliver an unparalleled home entertainment experience to consumers around the world. Under this exciting partnership, the sound systems of these Mini LED and QLED TV series are co-designed by Haier and KEF, and have been meticulously tuned by the same KEF engineering team responsible for their flagship loudspeakers, including Blade and The Reference. Leveraging KEF's over 60 years of acoustic engineering expertise, these Haier TV models seamlessly integrate high-end audio experiences, making it more accessible and convenient for home entertainment scenarios. The Haier M96 series of 4K QD-Mini LED TVs, the flagship model for 2025, made its debut at the 2025 Australian Open earlier this year. Its enhanced visual and audio capabilities captivated millions of tennis enthusiasts at Melbourne Park and central Melbourne through Haier TV's fan engagement booths and activities. Benefiting from KEF's expert tuning, the M96 series boasts a 2.2.2-channel audio system for the 75-inch and 85-inch models, and an impressive 6.2.2-channel system for the 100-inch model, delivering a truly high-fidelity audio experience, right in the living room. The Haier M80 series of 4K Mini LED TVs, which officially launched in India in April, is scheduled to roll out across key markets in the coming months. Co-engineered with KEF, the Haier TV M80 series delivers clear highs, rich mids, and deep, elastic bass through its 2.1-channel speaker system. Available in multiple sizes—85, 75, 65, and 55 inches—the M80 series caters to a variety of home entertainment needs. "We are honored to partner with KEF on a global scale," said Junguang Liu, Vice President of Haier Smart Home, General Manager of Audio-Visual BU. "This collaboration seamlessly merges our smart home expertise with KEF's renowned audio technology, delivering an immersive and high-quality sound experience. Together, we are bringing next-level home entertainment to our consumers worldwide." Grace Lo, president and head of global marketing at KEF, commented: "We are delighted with our partnership with Haier TV. By combining KEF's acoustic technology with Haier TV's innovative capabilities in the field of home appliances, we are poised to provide users with a new immersive audio-visual experience with their latest TVs. We look forward to collaborating on more breakthrough audio-visual products together in the near future." This partnership marks the beginning of a shared journey. Both Haier and KEF are dedicated to elevating home entertainment and delivering unparalleled experiences. As a result of this innovative collaboration, consumers can anticipate more Haier TV products featuring KEF co-engineered audio in the near future.
Yahoo
08-05-2025
- Automotive
- Yahoo
Volvo recalls more than 400,000 vehicles in US: What to know
The Brief Volvo has recalled more than 400,000 vehicles in the U.S. due to a rearview camera issue, officials said. The camera image "does not display" and can reduce the driver's view – increasing the risk of a crash. The recall includes certain 2021-2025 XC40, 2022 V90, 2022-2025 S90, V90CC, C40, XC60, and 2023-2025 S60, V60, V60CC, and XC90 vehicles. Volvo has recalled more than 400,000 vehicles in the U.S. due to a rearview camera issue, officials said. A recall notice dated May 1 and posted by the National Highway Traffic Safety Administration warns that the rearview camera image "does not display" and can reduce the driver's view – increasing the risk of a crash. Here's what drivers should know: What we know Volvo Car USA recalled certain 2021-2025 XC40, 2022 V90, 2022-2025 S90, V90CC, C40, XC60, and 2023-2025 S60, V60, V60CC, and XC90 vehicles. The rearview camera image may not display when the vehicle is put in reverse, increasing the risk of a crash, according to the recall notice. Volvo said it had not received any reports of injuries, fatalities, or crashes related to the recall. By the numbers A total of 413,151 vehicles were recalled in the U.S., in addition to 40,673 vehicles in Canada, the notice said. What's next The recall notice said the software will be updated by a dealer or through an over-the-air (OTA) update – free of charge. Owner notification letters were expected to be mailed on June 24. What you can do Owners can contact Volvo Car customer service at 1 (800) 458-1552. Volvo Car's number for this recall is R10320. Dig deeper Drivers can check if their vehicle is under recall by using the NHTSA's VIN look up tool: Go to Enter the vehicle's 17-character VIN Search for recalls The Source Information for this story was provided by a National Highway Traffic Safety Administration Vehicle notice, which gives details about the Volvo recall. This story was reported from Cincinnati.
