JAKARTA - Volvo Group plans to terminate employment (PHK) on about 800 employees in three of its facilities in the United States (US) in the next three months.
This step was taken due to market uncertainty and a decline in demand triggered by President Donald Trump's import tariff policy.
In an official statement, quoted from Reuters on Sunday, April 20, Volvo Group North America revealed the company had notified employees of plans for layoffs of up to 800 people.
"The layoffs will be carried out at the Mack Trucks facility located in Macungie, Pennsylvania, as well as two other Volvo Group facilities in Dublin, Virginia, and Hagerstown, Maryla," a Volvo spokesperson said.
President Trump's import tariff policy has rocked the global trade system that has been going on for more than 75 years. This changing policy also undermines consumer and business confidence and encourages economists to increase projections for the possibility of a recession in the United States.
A spokesman for Volvo Group North America said that heavyweight truck orders continue to be under pressure due to market uncertainty regarding transportation rates, demand, potential regulatory changes, and the impact of import rates.
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"We regret having to take this step, but we need to adjust production with the decline in demand for our vehicles," a Volvo spokesperson said of the company's decision to lay off.
Volvo Group is part of Swedish company AB Volvo and employs nearly 20,000 people in North America.
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