C.H. Robinson confirms 650 employees have been laid off amid freight market slowdown
Logistics big C.H. Robinson lately laid off lots of of employees as issues develop over the cooling freight market and lowered shopper spending.
Eden Prairie, Minnesota-headquartered logistics firm C.H. Robinson confirmed that 650 employees, or about 3.6% of the corporate’s whole work pressure, have been laid off this week.
“As we stated final week in our Q3 earnings, modifications in market situations, coupled with many profitable endeavors on our digital roadmap directed at scaling our mannequin to be extra environment friendly, imply we’re ready to scale back our general value construction. Because of this, we’re eliminating some positions at C.H. Robinson. These are usually not straightforward selections, as a result of we acknowledge the numerous contribution of the impacted workers. We’ve tried to method this with as a lot respect and empathy for our former colleagues as potential and are offering transition help,” Duncan Burns, Chief Communications Officer defined.
“We’re dedicated to making sure that our prospects, carriers and companions proceed to obtain our full focus and that we ship worth to them by this and going ahead,” Burns stated.
In a November 2, 2022, earnings name to report third quarter outcomes, President and CEO of C.H. Robinson Bob Biesterfeld expressed concern over the state of the economic system and hinted at plains to chop firm prices:
“Right now, we consider that we’re coming into a time of slower financial progress the place freight markets will proceed to chill from their peaks and can function extra reliably and at extra normalized charges, with fewer disruptions. These modifications in market situations, coupled with many profitable endeavors on our digital roadmap directed at scaling our mannequin to be extra environment friendly, are permitting us to take actions to structurally cut back our general value construction.“
