Volvo Plans Layoffs at Virginia Truck Plant

Volvo Trucks North America plans to lay off up to 650 workers next month at its truck-building plant in Dublin, Va., the Associated Press reported.

Separately, VTNA’s parent, AB Volvo, said last week that it had filed for delisting of Volvo’s shares from the Nasdaq Stock Market in the United States, effective Thursday, Dec. 13.

Following the delisting, all Volvo shares will be traded on the OMX Nordic Exchange Stockholm in Sweden, where the parent company is based.
 
The layoff move was the second round of layoffs since November 2006, when about one-third of the truck plant’s 3,170-person work force was let go, though many of those workers were rehired and the plant now has 2,900 workers, Volvo spokesman Jim McNamara told AP.

The layoffs, which will occur at the end of January, will be permanent, McNamara said, adding that the reflected current market demand.

The 1.6 million-square-foot New River plant Volvo’s largest truck manufacturing facility worldwide, producing 148 vehicles daily, AP reported.