Brandon Borgna with Volvo Trucks media relations confirms to Fox 21/27 plans to lay off about 300 employees at the Dublin plant starting in January of 2013.
"We very much regret having to take this action, which is driven by the well-publicized decline in industry orders," Borgna wrote. "Continued economic concerns, sluggish job growth, the upcoming election and federal budget discussions have impacted orders as customers delay purchasing decisions."
He added that Volvo is focused on keeping the company "competitive," and making sure that Volvo is a "strong employer for the long term."
Volvo Trucks in Dublin is expected to lay off around 300 workers next year.
A source tells us the reduction will take place in January.
The company, which employs around 2,400, held an open house in August for local leaders in an effort to become more transparent.