Ryder

More than 4,500 freight-related layoffs slated for firms nationwide

Layoffs continue to surge across freight-related companies in the U.S., with 4,511 recently announced by companies in Alabama, California, Maryland, Michigan, New York, Ohio, Oklahoma and Pennsylvania.

Firms in the U.S. have announced supply chain-related layoffs totaling 9,746 workers over the last five months, according to companies filing Worker Adjustment and Retraining Notification (WARN) Act notices.

Big Lots

Discount retail giant Big Lots (OTCMKTS: BIGGQ) filed for Chapter 11 bankruptcy...

https://www.freightwaves.com/news/more-than-4500-freight-related-layoffs-slated-for-firms-nationwide

2024’s most notable trucking deals

A slowdown in trucking M&A was met by interest rate cuts for the first time in more than four years in 2024. The anticipation of lower lending rates fostered more constructive transaction dialogues during the year, but deal count across the industry was still off 5% from 2023, according to data compiled by the research team at Left Lane Associates.

The supply chain M&A advisory firm said there is noise in the number as some deals were paused until after the election, which pushed closings into...

https://www.freightwaves.com/news/2024s-most-notable-trucking-deals

Teamsters have some legal issues to overcome after wins at Amazon and with DSPs

The Teamsters are claiming victory after organizing workers at a second Amazon warehouse, as well as a string of the e-commerce retailer’s direct service providers (DSPs).

But given the complicated nature of labor law today and the fact that the drivers of those vans now sweeping through neighborhoods don’t actually work for Amazon – at least not yet – it’s complicated.

The only successful Amazon-specific location where a union was voted in occurred on Staten Island, one of the five boroughs of...

https://www.freightwaves.com/news/teamsters-have-some-legal-issues-to-overcome-after-wins-at-amazon-and-with-dsps

More layoffs hit freight-related companies across US

Layoffs continue across the freight and logistics industry, with companies announcing 1,277 job reductions and six distribution facility closures across the country.

It is the second major round of layoffs in the industry since last week, when True Value Co., GXO, CJ Logistics America, DHL, PepsiCo, Reyes Coca-Cola Bottling LLC, Hunt & Sons LLC, Kuehne+Nagel, Americold Logistics, Amazon and Trademango Solutions announced they were eliminating 2,402 jobs.

UPS

Shipping giant UPS plans to temporarily...

https://www.freightwaves.com/news/more-layoffs-hit-freight-related-companies-across-us

Ryder acquires mobile fleet maintenance provider Pit Stop

Ryder System announced Monday it will acquire Pit Stop Fleet Service for an undisclosed sum. The Miami-based fleet management and supply chain services company said the deal will boost its growing mobile repair business, Torque by Ryder.

Founded in 1997, Venice, Florida-based Pit Stop provides mobile fleet services in eight states across the Southeastern U.S. It specializes in preventative maintenance, repairs and breakdown assistance.

The acquisition is expected to close on Aug. 1, adding...

https://www.freightwaves.com/news/ryder-acquires-mobile-fleet-maintenance-provider-pit-stop

Teamsters tie up with Staten Island Amazon union, win other elections

The Teamsters union has recorded several organizing or contract-signing victories in the past few weeks, but a step it has taken toward representing at least one group of Amazon workers has garnered the biggest headlines. 

An independent labor union that won representation at a Staten Island, New York, warehouse in 2022, a victory that Amazon (NASDAQ: AMZN) is fighting, has agreed to come under the umbrella of the Teamsters, according to media reports. The Teamsters posted an announcement about...

https://www.freightwaves.com/news/teamsters-tie-up-with-staten-island-amazon-union-win-other-elections

Borderlands Mexico: Kuehne+Nagel expanding in Texas to meet rising manufacturing demand

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Kuehne+Nagel is expanding in Texas to meet rising manufacturing demand; Canadian government opens cross-border trade office in Arizona; China-based automotive supplier opens factory in Aguascalientes, Mexico; and new 500,000-square-foot logistics hub being constructed near Dallas.

Kuehne+Nagel expanding in Texas to meet rising manufacturing demand

Global supply chain...

https://www.freightwaves.com/news/borderlands-mexico-kuehnenagel-expanding-in-texas-to-meet-rising-manufacturing-demand

Ryder opens second cross-border facility along Mexican border

Ryder System Inc. has opened a logistics facility in El Paso, Texas, aiming to tap into growing cross-border trade between the U.S. and Mexico.

Ryder’s newly built 50,000-square-foot logistics facility is aimed at supporting global firms that are nearshoring manufacturing operations to Mexico, officials said. The facility is near the Ysleta-Zaragoza International Bridge, which connects El Paso to Juarez, Mexico.

“If you look at the latest numbers, U.S. trade with Mexico is at nearly $800 billion...

https://www.freightwaves.com/news/ryder-opens-second-cross-border-facility-along-mexican-border

Ryder’s Q1 reflects weak trucking market, but performance boosts stock

Ryder’s quarterly earnings showed signs of the weak truck market, but its emphasis on other segments of the company besides its flagship fleet rental activities continued to bear fruit.

The bottom line is that Ryder’s non-GAAP earnings per share of $2.14 exceeded consensus expectations by 43 cents, according to SeekingAlpha. Its revenue of $3.1 billion exceeded consensus by $40 million. However, the $2.14 EPS came in 67 cents lower than the corresponding figure of 2023’s first quarter.

Investors...

https://www.freightwaves.com/news/ryders-q1-reflects-weak-trucking-market-but-performance-boosts-stock

Over 1,300 layoffs hit logistics companies across US

Layoffs continue across the freight and logistics industry, with companies in Florida, Georgia, Illinois, Michigan and Texas announcing job reductions and facility closures over the past two weeks.

Universal Logistics

Warren, Michigian-based Universal Logistics is permanently shuttering two of its subsidiaries and laying off a total of 677 employees, according to notices recently filed with the state.

The layoffs are related to Universal-operated entities Logistics Insights Corp. and Universal...

https://www.freightwaves.com/news/over-1300-layoffs-hit-logistics-companies-across-us

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