Manitou Group (EPA: MTU) announced Wednesday it will close its manufacturing and distribution facility in Waco, Texas, and consolidate most of its U.S. production in South Dakota.
The shutdown will eliminate 148 jobs at the Waco facility, which assembled masted forklift trucks and articulated loaders.
The closure is aimed at “strengthening the Manitou Group position in the U.S.,” according to a release.
“Our...
https://s29755.pcdn.co/news/manitou-group-closing-plant-in-texas
TravelCenters of America (NASDAQ: TA) pledged practically all of its assets to secure a $200 million loan to pay for CEO Jonathan Pertchik’s makeover of the business.
It is TA’s second major fundraising effort this year. It sold 6.1 million new shares in the company at $14.61 a share in July after cutting the price by about a third from the original asking price. TA raised about $80.1 million from the sale.
Buyers of those shares have done well. TA shares closed Monday up 3% at $32.98.
The...
https://s29755.pcdn.co/news/travelcenters-of-america-goes-all-in-for-200m-loan
Disruptions caused by the coronavirus pandemic and budget cuts will cost an additional 1,063 people their jobs, according to a new round of worker reduction notices to state officials on Friday.
According to reports, Southwest Airlines, auto parts supplier Hilite Industries Automotive and grocery store chain Tom Thumb are among the businesses that have conducted layoffs in recent days.
Dallas-based Southwest Airlines (NYSE: LUV) has issued 1,322 furlough warnings to employees across Texas since...
XPO Logistics and Southwest Airlines announced this week they could eliminate as many as 186 jobs in Texas, according to a Worker Adjustment and Retraining Notification (WARN) Act notice filed with the state.
XPO Logistics (NYSE:XPO) said it could be cutting up to 53 jobs at its distribution center (DC) in Lancaster, Texas, after one of its customers announced it would be “making a business model change.”
“The consolidation will result in the customer absorbing the work currently performed by XPO...
https://www.freightwaves.com/news/xpo-southwest-airlines-cutting-jobs
Finnish shipbuilder Meyer Turku has decided to permanently lay off additional 84 people after […] The post Meyer Turku’s layoff tally hits 250 workers appeared first on Offshore Energy.
https://www.offshore-energy.biz/meyer-turkus-layoff-tally-hits-250-workers/
Sweden’s Volvo Group (OTC: VLVLY) reported lower sales and income in the third quarter. But the gap compared to year-ago results narrowed with rebounding truck orders responding to strong freight demand.
Third-quarter net sales fell 16% to SEK 76.9 billion ($8.71 billion) compared to SEK 98.7 billion ($11.18 billion). Adjusted operating income was SEK 7,217 million ($816.73 million) compared to SEK 10,885 million ($1.23 billion) in the year-ago quarter. The adjusted operating margin was 9.4%...
https://www.freightwaves.com/news/volvo-group-sees-modest-q3-recovery
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a short seller has laid out a blistering report on Nikola, suggesting the company is perpetrating a fraud on investors. Plus, Trimble has announced layoffs within its transportation business, hours-of-service changes could impact safety and YRC’s issues linger.
Not everything is as it seemsNikola Corp. (NASDAQ: NKLA) has been a media and industry darling of late, but a report from a recognized short...
https://s29755.pcdn.co/news/the-daily-dash-nikola-turmoil-trimble-layoffs-and-hos-changes
Estonian ferry company AS Tallink Grupp has launched a reorganization process that will impact […] The post Tallink Grupp’s reorganization to affect 2,500 workers appeared first on…
https://www.offshore-energy.biz/tallink-grupps-reorganization-to-affect-2500-workers/
The coronavirus pandemic has prompted two freight-related businesses to eliminate a total of nearly 400 jobs, according to Worker Adjustment and Retraining Notification (WARN) Act notices filed in Texas.
Country Fresh Products, located in the Houston area, said it is curtailing its operations at the facility “due to a decline in sales volume and reduction in demand because of the COVID-19 pandemic.”
The layoffs mean the permanent elimination of 310 REX Staffing LLC employees who are assigned to...
https://www.freightwaves.com/news/pandemic-spurs-more-freight-related-job-cuts
Makeup production of tractors and trailers is creating a mini-boom for equipment manufacturers. It is even leading to rehiring of some laid-off workers. But how long will the good times roll?
“June through August, which are usually slow months, will all be good months,” Dave Giesen, vice president of sales at Stoughton Trailers in Stoughton, Wisconsin, told FreightWaves. “The first five months of the year were really slow. We need months like this to get some backlog. We’re all crossing our...
https://www.freightwaves.com/news/makeup-orders-boost-tractor-and-trailer-production-for-now