Factory fallout: Manufacturing plant closures and layoffs from Volvo, Panasonic, Teva, and more

With political winds changing and global markets tightening, manufacturers are making tough decisions—and workers are feeling the impact. In this roundup, we chronicle the closures and cutbacks reverberating throughout the manufacturing sector. As uncertainty becomes the new normal, we examine how businesses and workers alike are navigating a rapidly changing industrial landscape. 

According to WCBD News 2, Volvo Cars plans to lay off approximately 5% of its workforce at the Ridgeville plant in Berkeley County, South Carolina, as part of a restructuring of its U.S. operations. The facility, which is the company’s first U.S. manufacturing plant, currently employs around 2,500 people. The layoffs are in response to “changing market conditions and evolving trade policies,” including tariffs.  
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According to Just Auto, Novo Energy, a battery venture established by Volvo Cars and Northvolt, is cutting 50% of its workforce amid organizational changes. The layoffs follow the bankruptcy of its technology partner, Northvolt, and are intended to optimize operations and control costs. The job reductions are subject to union negotiations in Sweden. In a recent quote, NOVO Energy chief executive officer Adrian Clarke said: “Despite our best efforts to secure our business and an extensive ongoing search for a suitable new technology partner, the current economic challenges and market conditions have made it impossible to maintain our operations at the current scale.” 
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According to AL.com, plastics manufacturer Berry Global, now operating as Amcor following a recent merger, is closing its facility in Lanett, Alabama, resulting in the layoff of 112 employees. The facility is scheduled to close on July 1, with production to be integrated into other existing sites. The company attributed the closure to “changing market conditions.” In a recent quote, an Amcor spokesperson said, “We are grateful for our Lanett employees’ service and dedication and will assist them in exploring other opportunities within our organization and the Lanett community.” 
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According to Fierce Pharma, Teva, a hybrid generics and innovative medicines manufacturer, plans to lay off approximately 3,000 employees—about 8% of its 37,000-person global workforce—as part of its ongoing restructuring efforts. The layoffs are intended to help the company save around $700 million by 2027. In a recent quote, Richard Francis, CEO, said, “We’re accelerating innovative growth and strengthening our generics business, while streamlining our operations, sharpening our business and optimizing processes.” The job cuts are part of Teva’s “Acceleration Phase” in its broader “Pivot to Growth” strategy launched in early 2023. 
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Panasonic Holdings Corporation, which manufactures electronics and industrial systems, announced plans to optimize its global workforce by reducing approximately 10,000 positions—5,000 in Japan and 5,000 overseas—at its consolidated companies. According to the press release, the reduction will be implemented mainly in FY3/26 and will focus on improving operational efficiency and closing or integrating sites, particularly within sales and indirect departments. These measures are part of broader management reforms aimed at addressing structural issues and enhancing productivity.  
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