“We are going to be forced to make more cars with fewer personnel,” said Volvo chief Fredrik Arp, according to Dagens Industri.
Arp said the idea is that those who leave would do so voluntarily and with pensions, and would be over 55-years-old.
Volvo cars now has 19,000 employees in Sweden.
Arp said the car maker would be making a huge push into Russia and China Australia, South Korea and Taiwan.
“Especially in China and Russia we are making a big market venture and are counting on positive growth,” Arp said, reported Dagens Industri.