Volvo Trucks to Lay Off 300 Virginia Factory Workers
Volvo Trucks North America plans to lay off 300 workers at its New River Valley Plant in Dublin, Va., in September.
The Swedish truck company blamed sagging sales in the heavy-duty truck market for the cutback. It follows a layoff of 500 employees at the Virginia factory in February.
“It’s by now very clear that the industry is managing through a period of excess inventory and reduced demand,” John Mies, Volvo’s U.S. spokesman, said Tuesday. “And we’re seeing that softening particularly in the long-haul segment, which is core for Volvo.”