Paccar is laying off an unspecified number of workers at its Renton plant due to a slowdown in the market for trucks.

Share story

Paccar is laying off an unspecified number of workers at its Renton plant due to a slowdown in the market for trucks.

The layoffs will take effect on Jan. 16, company spokesman Jeff Parietti said, and are taking place because Paccar is reducing the rate at which it builds and ships out trucks. Paccar will make employment-transition services available to employees starting next week, he said.

“The plan is to increase the build rate when market conditions improve and rehire people back,” he said. The layoffs were announced Thursday, Parietti said.

Paccar declined to specify how many employees would be let go, or by how much it would slow down its production at the plant, which manufacturers Kenworth trucks. Last year the company reduced its build rate at the Renton facility from 30 to 18 trucks a month.

Paccar estimates that retail sales of heavy-duty trucks will reach 150,000 in the U.S. and Canada this year, down from 176,000 in 2007 and 322,000 in 2006, according to Parietti.

In late October the company posted third-quarter profits of $299 million, down 1.1 percent, the fifth profit decline in six quarters.

Attempts to reach union officials late Thursday were unsuccessful.

Ángel González: 206-515-5644 or agonzalez@seattletimes.com

The story contains material from The Seattle Times archives and Bloomberg.