Monday, November 17, 2008

Mother Trucker! Paccar Layoffs

The company that manufactures Kenworth and Peterbilt trucks, Paccar, has announced a 91% reduction in staff at a plant in Renton, WA.

The plant which, in its former glory produced 18 Kenworth trucks per day will now produce 2 trucks per day.

430 of its 496 workers will be let go on January 16, leaving a whopping 66 workers at the plant.

Suffering from a 53% reduction in truck sales in North America since 2006, Paccar is forced to cut output, and as a consequence, cut plant workers. 322,000 trucks were sold in North America in 2006, and this year the expected total number is 150,000.

Looks like as clownsumers are forced to reduce their purchasing velocity of Chinese junk, there will be a suppressed demand for trucks to drive it from the port to their local strip mall.

Paccar is headquartered in Bellevue, WA.

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