Volvo Cars plans to lay off 5% of workers at Ridgeville plant, spokesperson confirms
RIDGEVILLE, S.C. (WCBD) — Volvo Cars plans to lay off approximately 5% of employees at its Ridgeville plant as it restructures its U.S. operations, a spokesperson confirmed Monday.
The spokesperson said the decision was made in response to 'changing market conditions and evolving trade policies,' including tariffs.
'Our aim is to support impacted employees, protect as many jobs as possible and secure Volvo Cars' long-term future in the US, balancing our investments with the need to reduce costs and improve efficiency,' they wrote in a statement to News 2.
The Swedish-based company broke ground on its Berkeley County plant in 2015 as its first U.S. manufacturing facility. The plant currently employs about 2,5000 people.
The layoff announcement comes less than week after CEO Hakan Samuelsson unveiled the company's 'cost and cash action plan' as part of a push to streamline production, Reuters reported.
This story is developing and will be updated.
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