Volvo Trucks to Cut 1,400 Jobs
September 30, 2008
Volvo Trucks said Tuesday it would lay off nearly 1,400 workers in plants in Belgium and Sweden to match production with slumping sales.
Volvo will negotiate with unions to make staff cuts at plants in Ghent, Belgium, and in Gothenburg and Umea, Sweden, a company statement said.
The company said 610 employees at the Gothenburg facility and 370 at the Umea cab plant would lose their jobs, The Local reported.
An additional 400 jobs would be lost in Ghent, the company said.
“A cost reduction plan will also be implemented to meet the lower sales levels and increasing raw material costs,” Volvo said.