Volvo AB announces layoffs at Virginia plant

| 11/13/2006

Volvo has joined the growing list of companies in the trucking industry who plan to lay off workers early next year.

In a press release, Volvo said its New River Valley Plant in Dublin, VA, will cut about a thousand jobs - about one-third of its workforce.

The plant assembles vehicles for Volvo Trucks North America and Mack Trucks.

The company said an anticipated decline in sales in 2007 because of the higher cost of the new models prompted the decision. The higher costs stem from changes made to meet federal emissions regulations.