Volvo Car Corporation, a Sweden-based automaker, is planning to lay off 1,000 consultants and white-collar workers.
The automaker is taking this step as part of its plan to counter decreasing sales and return to profitability in 2013.
According to company spokesman Per-Ake Froberg, this step has been taken to help the automaker save $232.7m and reach a breakeven point in 2013.
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