Story by: Clarissa Hawes @ FreightWaves

This story has been updated to include a statement by Shannon Everett, president of Rich Logistics, as well as a press release issued by Roadrunner, Rich’s parent company, late Monday, Sept. 30.

Approximately 450 truck drivers and employee positions will be eliminated after Rich Logistics notified workers by letter on September 30 that the company is closing five terminals and significantly reducing its workforce at five locations. According to the article from the freightwaves.com and its author Clarissa Hawes

“My thoughts and prayers go out to our employees and their families that have been impacted by this restructuring, a decision that we feel was necessary given the growing forces that are currently being exhibited throughout the NAFTA trade lanes,” Shannon Everett, president of Rich Logistics, told FreightWaves late Monday.

According to the Federal Motor Carrier Safety Administration’s SAFER site, the company has nearly 520 truck drivers.

The downsizing includes reducing its “unprofitable” dry van company tractor and trailer fleets by more than 50 percent, according to a press release sent out by the company late Monday.

“In conjunction with the downsizing activities, the company expects to incur one-time pretax operations restructuring costs of between $12 million and $16 million, excluding the gain or loss on the sale of equipment and the write-down of assets,” the company said in its release. According to Hawes and her article.

Story continues HERE

Yesterday we informed about Cold Carriers trucking company filing chapter 11 bankruptcy

Source and credits: freightwaves.com / Clarissa Hawes /  iTrucker  / Mario Pawlowski