Orders fade and layoffs commence in NA Class 8 truck sector

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Volvo Trucks North America's decision to cut the workforce at its Virginia truck plant by around 25% in February 2016, is likely to send shivers through the entire North American heavy truck manufacturing sector. It is also a somewhat unfortunate baptism for Martin Lundstedt, the former president and CEO of major rival Scania, who replaced Olof Persson as Volvo president and CEO on 22 October.