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Roadrunner ups driver pay, incentives

2nd pay bump of 2022

Less-than-truckload provider Roadrunner (OTC: RRTS) announced Tuesday a second pay increase for drivers in 2022 as well as a new incentive program.  

Under the new terms, driver teams will see a 20-cent-per-mile bonus, a 4-cent-per-mile increase in network minimum pay and a 25-cent-per-mile hike to deadhead rates. Drivers will also see a 10-cent-per-gallon improvement in fuel discounts with Roadrunner’s preferred partners.

The changes went into effect Monday.

Roadrunner runs an asset-light LTL model focused on long-haul, metro-to-metro shipments among its 32 service centers across the nation.

“Roadrunner is focused on increasing driver compensation, including pay increases in dozens of lanes as well as increased fuel pay and larger fuel discounts to help defray rising fuel costs, to help our current drivers feel how much they are appreciated,” President Frank Hurst said.

The company pays signing bonuses of $10,000 to solo owner-operators who run their own equipment as well as an “additional bonus” for team owner-operators. Roadrunner also pays driver referral bonuses of $5,000. The sign-on and referral bonuses are paid out over a six-month period.  

“We’re increasing our rates in more than 60% of our lanes by an average of 12 cents per mile,” added Scott Ware, SVP of operations and linehaul. “We continue to increase pay in our lanes across the board. We recognize the value our drivers deliver every single day, which is why we’ve implemented this second increase of 2022.”

Roadrunner emerged from a restructuring as an LTL carrier. The company sold and spun off noncore logistics and trucking assets to improve the capital structure. Its revamped LTL operation has seen significant investment in tech, which has reduced transit times and improved the service offering.

“We are investing heavily into our technology platform, driver infrastructure and resources to assist our drivers in successfully running and building their logistics enterprises,” said Chairman Chris Jamroz. “I think of every driver for Roadrunner as a personal business partner of mine and look forward to continuing to grow with each and every one of them.”

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Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.