Another Truck Manufacturer cuts Production

With Volvo and DAF already reducing production, Scania has become the third to make cuts due to the recent down turn in economy.

Scania reported that truck orders had dropped by a huge 41% in the third quarter of 2008, with Western Europe down by 69% and Central/Eastern Europe down by 45%. As a result of the low order book and a high inventory of trucks they will be adjusting production rates and losing their temporary staff which makes up roughly 20% of the workforce.

Also affected by the slowdown is Volvo who was the first to announce cuts at the beginning of October. They revealed that there was to be 1,400 job losses at their Belgium and Swedish sites, production rates were also slashed.

Volvo was closely followed by DAF who reported only a couple weeks ago, job losses at their Leyland depot.