Volvo Cars will lay off 1,000 employees in Sweden as part of cost-cutting measures.

“About 1,000 employees are being laid off in Sweden,” said the company’s CFO Fredrik Hansson in an interview with Sveriges Radio.

At the same time, the company’s quarterly results exceeded expectations. Pre-tax profit for the third quarter rose to 6.2 billion SEK ($658.42 million), despite a 7% drop in car sales compared to the same quarter last year (down to 160,500 vehicles).

Earlier in the spring, Volvo announced plans to cut 3,000 jobs. As part of these layoffs, the automaker will also eliminate about 1,000 positions currently held by consultants, mostly in Sweden.