The Volvo brand is displayed on the Volvo Automobiles of Austin dealership on September 04, 2024 in Austin, Texas.
Brandon Bell | Getty Photos
Volvo plans to put off as many as 800 employees at three U.S. amenities over the following three months as a result of market uncertainty and demand issues within the face of President Donald Trump’s tariffs, a spokesperson stated on Friday.
Volvo Group North America stated in a press release it has advised workers it plans to put off 550-800 folks at its Mack Vans web site in Macungie, Pennsylvania, and two Volvo Group amenities in Dublin, Virginia, and Hagerstown, Maryland.
The corporate, a part of Sweden’s AB Volvo, employs almost 20,000 folks in North America, in response to its web site.
Trump has upended the worldwide buying and selling system that has been in place for over 75 years with a plan for tariffs on merchandise from the world over. His vacillating commerce coverage has undermined client and enterprise confidence, and induced economists to boost their forecasts for a U.S. recession.
Volvo Group’s lay-offs are the newest response from a automotive and truck trade that’s reeling from the Republican president’s tariffs on sure elements, which is anticipated to extend the price of manufacturing autos.
“Heavy-duty truck orders proceed to be negatively affected by market uncertainty about freight charges and demand, potential regulatory adjustments, and the affect of tariffs,” a spokesperson for Volvo Group North America stated in an emailed assertion.
“We remorse having to take this motion, however we have to align manufacturing with diminished demand for our autos.”
