Lower truck values, high interest rates, slow sales and increasing fuel prices have forced Peterbilt to lay off 370 employees at its Nashville, Tenn., plant.

According to Associated press reports, the plant’s second shift will be eliminated. Employees have already been notified of the layoffs, which will be based on seniority and will take effect tomorrow.
Peterbilt will also cut back on the number of trucks produced from 50 to 35 per day. Daily production was reduced from 70 to 50 in March.
The Nashville plant employs around 1,700 workers.