Volvo cuts jobs in China as EV ambitions stall and global restructuring accelerates

Volvo Cars has begun laying off staff in its China operations, with the majority of the cuts affecting its Shanghai-based technical and research and development center, according to employees familiar with the matter. The affected departments include engineering, research and development, and supply chain management. Employees have reportedly been offered severance packages equivalent to three months’ salary plus one month for each year of service (N+3).

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US lifts EDA ban, revives Synopsys-Ansys China deal prospects

The US and China have reached a preliminary trade agreement that includes the resumption of rare earth exports from China. In tandem, several electronic design automation (EDA) software vendors have confirmed that the US Department of Commerce will lift its short-lived export ban on EDA tools. The reversal offers relief to companies such as Synopsys, Cadence, and Siemens, which had faced rising uncertainty over their business continuity in the Chinese market.

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