Update:
In a statement to 10 News, Volvo confirmed that layoffs that were announced earlier this month will impact between 250 and 350 employees.
Volvo said that the layoffs are considered indefinite, and the last day of employment for those affected will be March 30.
Original:
Volvo Group North America informed its employees at the New River Valley (NRV) plant on February 18 that a reduction in employment is expected to begin in early April. The company is currently reviewing its staffing and production scenarios, and it is not yet clear how many of the plant’s approximately 3,600 employees will be affected by the layoffs.
The decision to reduce the workforce is attributed to a decrease in demand within the core long-haul segment of the heavy-duty truck market. Additionally, Volvo has completed the critical phase in the production ramp-up of its new VNL highway truck, which has further influenced the need to adjust staffing levels.
Janie Coley, Director of Public Relations for Volvo Group North America, expressed regret over the decision, stating, “We regret having to take this action, but we need to balance staffing with market demand.”
The company is committed to keeping employees informed as the situation develops and will provide updates as more information becomes available.
