The world’s second largest truck maker, Volvo, is laying of 1,620 people in Sweden.
Nearly two thirds of them work on the lorry assembly line and the rest make engines. A Volvo spokesman said: “It boils down to weak orders with customers not daring to place orders in the present environment due to uncertainty. He added: “There are no signs of improvement.” The layoffs are the latest in a series of cuts that has seen the truck maker shed thousands of jobs in reaction to a sharp fall in demand across most of its key markets. Volvo has also been cutting jobs in its construction equipment business. At the same time Italian truck maker Iveco, which is part of Fiat, said it will temporarily lay off about 1,200 workers next month because of the global slowdown.