Volvo to Cut 1,500 Jobs

Volvo will layoff an additional 1,543 jobs at its Volvo Trucks, Construction Equipment, Penta and Powertrain units.

The Swedish automaker is talking to unions about possible cuts in hours.

Volvo manufactures heavy-duty trucks under the Renault, Mack, Nissan Diesel and Eicher brands.

In 1999 Volvo sold its car division Volvo Cars to Ford for $6.45 billion.