Volvo Group North America announced plans to lay off between 550 to 800 employees across its facilities in Pennsylvania, Virginia, and Maryland, primarily due to uncertainties in market demand exacerbated by tariffs imposed by President Trump. The company is adjusting its workforce in response to declining heavy-duty truck orders, which have been influenced by shifting trade policies and increased manufacturing costs. This move highlights broader repercussions within the automotive and trucking sectors as economists predict a potential recession stemming from recent trade developments.
Volvo Group plans to lay off 800 workers due to market uncertainty and demand concerns, heavily influenced by President Trump's tariffs.
Volvo Group's layoffs reflect the troubling impact of tariffs on the car and truck industry, driving manufacturing costs up and dampening orders.
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