Volvo Cars has confirmed 1,470 job cuts, mostly in Sweden and Belgium.

The company had last month said it would cut somehwere between 1,000 and 1,500 posts.

"In line with the company's previously stated commitment, Volvo Cars is implementing a cost-cutting programme to ensure its future long-term competitiveness," the Ford-owned car maker said in a statement on Monday.

In Sweden 720 people will go. Forty white-collar employees in Gothenburg will be sacked while another 150 blue-collar and 140 white-collar employees will be offered early retirement in addition to the 300 who already previously accepted the offer. 90 people are resigning from the company to pursue further studies.

In addition to the permanent jobs, 300 hired services and consultants will be axed, the statement said.

Volvo will also cut 450 jobs outside Sweden, primarily in its assembly plant in Belgium.

The Volvo Car Corporation has 27,500 employees; 19,500 in Sweden, of whom 13,500 are in the Gothenburg area.