Swedish truck-maker Volvo AB said it is more than doubling planned job cuts to 4,400 as its fourth-quarter operating income dropped 17%to 996 million kronor($180.1 million).
Sales in the fourth quarter rose 8%to 76.6 billion kronor($13.9 billion),and revenue increased 11%in its truck division.
Truck deliveries increased 15%in the fourth quarter to 61,613.
In announcing the earnings,Volvo also said it would increase planned"white-collar"job cuts to about 4,400 jobs,from a previously announced 2,000 amounting to about 4.6%of its workforce.The company said it is part of a plan to save about 4 billion kroner in 2015.
Full-year operating income dropped to 7.1 billion kroner($1.28 billion)from 18 billion kroner($3.26 billion)the year prior.Revenue declined to 273 billion kroner($49.4 billion)from 299 billion kroner($54 billion)in 2012.