Volvo is cutting jobs at its new River Valley, Va., truck plant for the second time this year.

According to published reports, the company will cut 300 jobs effective April 30, both hourly and salaried workers. About the same number of jobs were cut in February.
Although the company has tried to take measures to improve the situation, such as shifting some production to more in-demand day cabs and temporarily idling the plant, it has not been enough to compensate for the slowing economy.
"The sharp decline in the trucking industry has been much worse than anyone expected," said Karl-Erling Trogen, interim president and CEO. He told the Winston-Salem (N.C.) Journal that the order board has deteriorated more than expected over the past few weeks.