Jump to content

Prevailing Economic Conditions


mackcl96
 Share

Recommended Posts

Volvo cutting jobs, production

The world’s second-largest truck maker is cutting back on production and jobs. Volvo announced Tuesday, Dec. 16, that it’s stopping heavy truck production in Europe for up to 25 days in the first quarter of 2009 because of the recession.

Bloomberg reported that Volvo’s sales fell 21 percent in November and that canceled orders outnumbered new orders by 1,800 trucks. The company is also in the process of cutting more than 2,000 jobs.

According to Bloomberg, truck manufacturers worldwide have seen orders fall dramatically, largely because potential buyers can’t get financing.

In related news, engine-maker Cummins says it’s laying off 500 workers and has downscaled its sales projections for this year.

gallery_133_137_10125.jpg

Thanks for hearing me out.

You can have the soap box now---------JIM

Link to comment
Share on other sites

No Christmas party at Mack just a luncheon.

We did a more modest version of the in-house holiday luncheon than we've done the past few years,'' said John Walsh, a spokesman for Mack, which employs about 1,700 people in the Lehigh Valley
.

gallery_133_137_10125.jpg

Thanks for hearing me out.

You can have the soap box now---------JIM

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...