Volvo to lay off 700 from Virginia truck plant
Volvo has confirmed plans to lay off about 700 people in Virginia's New River Valley at its Dublin plant because of decreasing public demand for trucks.
A company spokesperson said, "We regret having to take this action, but we operate in a cyclical market, and after two years of extremely high volumes, we have to adapt to reduced market demand."
Volvo said in June, when it
in Virginia, that it expected to have to lay people off around the end of the year.
Volvo says it expects the total North American truck market to be down nearly 30 percent, or about 100,000 trucks, in 2020, and that one of Volvo’s core segments, the long-haul truck market, will represent a significant part of that reduction.
The Dublin plant produces all Volvo trucks sold in North America.
Layoffs will begin the week of January 20, 2020. The 700 are part of the current plant workforce of about 3,300.
The company says there will be outplacement support for all affected employees, who will also be given information about the support available through the Virginia Employment Commission and the regional Rapid Response team.