Logistics Sector Experiences Over 800 Layoffs Due to Contract Losses and Facility Closures
The logistics sector in the U.S. has seen over 800 layoffs in the past three weeks due to contract losses, facility closures, and shifting supply chain strategies. Companies like Saddle Creek Logistics Services and Ryder System are affected, with job cuts primarily in warehouse and trucking operations. The trend highlights ongoing pressure in the contract freight market despite some stabilization in the spot market.
Tickers: $R
Topics: contract freight layoffs logistics trucking industry warehouse operations