Currently, Volvo Car Corporation has around 24,000 employees globally. On average, the company sells between 374,000 to 440,000 vehicles but by 2020, those figures are expected to increase. According to an Automotive News article, Volvo CEO Stefan Jacoby said more than 10,000 new workers will be hired and annual sales will jump up to around 800,000. The plan came after Volvo realized they have not yet suffered a sales decline and are currently well booked until spring 2012. The company’s thought might as well be, “why slow down now?”
As of now, Volvo’s biggest workforce is found in their home town of Sweden. Approximately 16,000 employees are there while 5,000 are in Belgium, 2,000 in scattered markets and another 1,000 located in China. That ratio might change however as the company plans on investing more and more into the Chinese market. In 2010, Volvo sold 31,000 vehicles and expects to hit nearly 50,000 by the end of 2011. For that reason, most of the additional 10,000 workers will find jobs in China so that the goal of 200,000 annual Chinese sales can be more attainable by 2020.