This week on Thursday Volvo chief executive Leif Johansson has called some 100 top managers to Gothenburg for a presentation of the programme he would like to implement, the newspaper said on Tuesday.

"The plans mean that 2,900 to 4,300 Volvo white collar workers around the world will lose their jobs. In Sweden alone Volvo will cut staff by about 1,600 to 2,400 workers," the newspaper said.

In Sweden, Volvo employs about 44,000 staff, of which about 16,000 are white collar workers. Worldwide the group has about 73,000 staff of which about 40 per cent, or 29,000, are white collar. Dagens Industry said that rumours have circulated for a while that the group had too many white collar staff.

Pressure will increase on heads of Volvo's six business divisions, comprising cars, trucks, buses, construction equipment VCE, Penta industrial motors and Aero, Dagens Industry said.

"At the same time the demand to deliver a return equal to the group's goal since the vehicle group was restructured will be highlighted and renewed... Volvo's goal is over a business cycle to have a return on capital in the range of 12 to 15 per cent which exceeds the market average," it said.