Quality Distribution reduces workforce
Chemical tanker truck company Quality Distribution Inc. said it has reduced its workforce, with most of the reductions occurred at the company’s Tampa, Fla. headquarters where about 17 percent of the positions were eliminated.
The Company eliminated about 60 positions and expects a reduction in payroll of more than $5 million annually. In conjunction with this action, the company will take a pre-tax charge for severance related costs of about $1.5 million in the second quarter.
Gary Enzor, chief executive officer said, “This was a very difficult decision, but one that was necessary in light of our recent financial performance. We made these reductions while giving full consideration to ensuring that we maintain our commitment to the highest standards for customer service and compliance.
The company also said first quarter revenue excluding fuel surcharge improved 11 percent to $177 million. Excluding the impact of its acquisition of Boasso, which closed in December 2007, revenue for the quarter was flat, as the firm continued to be impacted by softness in the housing markets as well as 10 percent fewer work days in March this year as compared to last March.
Quality provides bulk transportation of chemicals and related services. QDI also provides tank-cleaning services to the bulk transportation industry through its QualaWash facilities.
Quality Distribution reduces workforce
