Freightliner to Lay Off Workers, Trim Output

Freightliner, DaimlerChrysler’s heavy truck division, said it will lay off 3,745 people, or 18.6% of its North American work force, and curtail output 18% because of a slowdown in demand. The Portland, Ore.-based company, the largest maker of heavy trucks in North America, said the heavy truck-making industry has seen a “significant slowdown” in new orders as trucking firms struggle with high fuel prices, rising interest rates and driver shortages. The company said it expects heavy-duty truck sales to decline by as much as 25% this year in North America, and sales on medium-duty trucks also have slowed. The layoffs will occur at plants in Portland; North Carolina and Canada.

*

Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section’s staff can be found at https://www.latimes.com/bizstaff.