The Volvo emblem is displayed on the Volvo Vehicles of Austin dealership on September 04, 2024 in Austin, Texas.
Brandon Bell | Getty Pictures
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 instructed staff 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 practically 20,000 folks in North America, in accordance with 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 internationally. His vacillating commerce coverage has undermined shopper and enterprise confidence, and brought about economists to lift their forecasts for a U.S. recession.
Volvo Group’s lay-offs are the newest response from a automotive and truck business that’s reeling from the Republican president’s tariffs on sure elements, which is anticipated to extend the price of manufacturing automobiles.
“Heavy-duty truck orders proceed to be negatively affected by market uncertainty about freight charges and demand, doable regulatory modifications, and the impression 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 automobiles.”
