Volvo Penta of the Americas last week sent a letter to its customers that outlined plans to “realign expenses with the market conditions.”
Earlier this fall, the company offered its professional work force early retirement or a voluntary separation package, and was able to make needed adjustments almost exclusively from volunteers, company president and CEO Clint Moore said.
“In the next few weeks, we will share with you specific information about our reorganization, and the identification of key contacts within Volvo Penta,” Moore wrote. “You will see that our retiring colleagues overwhelmingly represented the administrative side of our business and not customer support.”
The changes affect only business in the United States, not Volvo Penta Canada. Volvo Penta of the Americas is based in Chesapeake, Va.
“We intend to use our financial strength and resources from the Volvo Group to come out of this downturn in an even stronger position despite the uncertainties and challenges that lie ahead,” Moore said.