Truck manufacturer AB Volvo announced on Tuesday that it has started to pare back operations and lay off some of its Russian employees, although it had not yet decided to completely quit the country.
In February, the Swedish company halted all service, sales, and production in Russia, which last year accounted for around 3% of its net group sales.
A spokeswoman told the reporters in an email that “it is not possible for us to conduct activities in Russia at this time.”
He said that local management was presently determining how many people would be impacted. “We have thus decided to respond by scaling down our operations in the country and to start reducing the number of staff,” he said.
He stated that the corporation would maintain an idle state at its production facility in Kaluga, close to Moscow.
The facility can build 15,000 vehicles annually and has a workforce of 600 employees.
