NEW RIVER VALLEY, Va. — Citing a continuing slide in the trucking industry, Volvo Trucks North America will cut 300 workers from its New River Valley, Va. plant effective Apr. 30.
The cuts are the second round at the plant since February, when an equal number of employees were let go.
“The sharp decline in the trucking industry has been much worse than anyone expected,” Karl-Erling Trogen, Volvo’s interim president and chief executive officer, explained to the news media.
Volvo Truck’s North American workforce peaked at 3,225 employees in late 1999. After these cuts, it will total 1,400.