From Nasdaq: 2025-04-22 06:45:00

AB Volvo (publ) VLVLY shares have surged 7.5% this year but have led to layoffs due to Trump’s tariff impact on the automotive industry. Up to 350 employees at Volvo Trucks North America’s Virginia plant will be laid off by June 27, bringing the total layoffs to around 980 this year.

Volvo, a Zacks Rank #3 (Hold) company, is part of the Automotive – Original Equipment industry and has seen a 24.1% increase in the past two years. The layoffs are due to market uncertainty and tariff impacts. The company expects a total impact of about 430 to 530 employees at the New River Valley plant.

In 2019, Volvo laid off 3,000 employees in Dublin after a strike and later announced 700 layoffs due to decreased demand. The current layoffs are part of the company’s strategy to navigate the volatile market conditions. The impact of these layoffs on Volvo’s future remains to be seen.



Read more at Nasdaq: Volvo Lays Off Another 350 Employees at New River Valley