Volvo announced the layoffs in late May, but it couldn’t offer specifics then on how many employees would be laid off. A cut in production at the plant prompted the layoffs, Volvo says.
“It’s by now very clear that the industry is managing through a period of excess inventory and reduced demand,” said Volvo spokesperson John Mies. “And we’re seeing that softening particularly in the long-haul segment, which is core for Volvo.”
Volvo announced this week it lowered its forecast for 2016 truck orders from 250,000 to just 240,000.
Mack and Daimler have also announced plant layoffs due to sluggish truck orders.
