Following the start of the Great Recession in 2008, Volvo Aero shared in the general downturn in business activity. In January 2009, Volvo Aero announced the redundancy of 250 blue collar and 100 white collar employees; a further cut of 200 positions was announced as a result of the economic downturn in June 2009. A year-on-year downwards trend in its sales activity was observed in the years surrounding this time, stimulating parent company Volvo to examine the company's future prospects. In September 2010, Volvo announced the sale of its US subsidiary, Volvo Aero Services, to a private equity firm.