Volvo to Cut 800 US Jobs Amid Trump Tariff Fallout
Volvo Group, the Swedish manufacturer of heavy-duty trucks, is preparing to lay off up to 800 workers at its US facilities. This significant job cut, impacting three locations across Pennsylvania, Virginia, and Maryland, is slated to occur over the next three months. The company cites market uncertainty, reduced demand for its vehicles, and the lingering effects of President Trump’s tariffs as the primary reasons behind this difficult decision.
The situation underscores the ongoing challenges facing the heavy-duty truck manufacturing industry in the US. The uncertainty surrounding freight rates, the potential for regulatory changes, and the added financial burden imposed by tariffs create a perfect storm of negative impacts on production and profitability.… Continue reading
Matt Underwood