Freight Distress Report: More than 7,000 jobs cut in new wave of closures
Recent workforce reductions across U.S. freight, distribution and manufacturing sectors have resulted in over 7,000 job cuts, according to a report from FreightWaves. The largest reductions involve Tyson Foods, which is eliminating more than 3,000 positions as it closes facilities in Illinois and Utah due to a beef shortage. Essendant, a wholesale distributor, warns of 1,278 layoffs across six states as it attempts to secure capital or find a buyer.
FedEx is cutting 173 jobs in Southern California, while Ryder plans to eliminate 73 positions in North Carolina. Daimler Truck will move truck manufacturing from Oregon to South Carolina, affecting 375 employees. Carlex Glass America will close its Tennessee manufacturing plant, resulting in 325 job losses. Financial distress is also causing closures, such as West Marine eliminating 80 positions in Florida due to Chapter 11 bankruptcy restructuring.
Overall, these restructuring efforts are reshaping freight volumes and trucking routes, with many companies seeking to consolidate operations or find new buyers to stay afloat.
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