UPS said earnings improved in the second quarter as it fully ended handling low-margin Amazon shipments and continued streamlining its domestic network as it concentrates on high-quality revenue.
UPS announced that it will eliminate a total of 51 parcel distribution centers this year as part of a network downsizing effort, as it reported lower profits that still topped consensus forecasts by analysts.
Canada Post is moving ahead with a modernization plan aimed at reducing excess capacity and cutting costs in an effort to restore its financial health.
Following its recent acquisition of Nippon Cargo Airlines, All Nippon Airways is moving forward with a restructuring to create a leaner, more focused cargo organization.
Canada Post is essentially insolvent and says it needs another cash infusion to survive in the midst of labor unrest and rapidly shrinking parcel business.
The Canadian government is shaking up Canada Post to reduce excess capacity and save money as postal demand shrinks.
Cargo airline Amerijet has already downsized its fleet and workforce, and changed leadership, to stem the flow of red ink. The latest move is outsourcing a warehouse operation in the Southeast.
FedEx has more cargo jets than it needs for its express package network. Some of those planes will now be used to try and capture a larger share of the general cargo market. In doing so, FedEx will go head to head with all-cargo carriers like Atlas Air, Cathay Pacific and Nippon Cargo Airlines.
Autonomous trucking software developer TuSimple will cut 300 more jobs and keep China operations it had planned to spin off or sell.
TuSimple cut 25% of its workforce that grew too fast following the company’s public debut in 2021.
Workhorse Group recorded next to no revenue in the second quarter as CEO Rich Dauch’s transformation hits the one-year mark.
Traton Group is glad it bought Navistar when it did. The U.S. truck and bus maker is helping offset war and other issues at the German holding company.
Engine and power systems maker Cummins Inc. destroyed analyst estimates for Q4 as the loosening of COVID-19’s grip in China pushed record sales.
Despite strong Q4, Daimler Trucks likely to miss analyst consensus on sales and profits based on parent company’s forecast.
TravelCenters of America caps its first year under new CEO Jonathan Pertchik by posting practically all its assets to secure a $200 million loan to carry out the turnaround expert’s business makeover.
Cathay Pacific is having trouble remaining a viable airline with just a trickle of passenger business due to the coronavirus. It’s taking drastic measures.
Trimble’s (NASDAQ: TRMB) transportation group has laid off an undisclosed number of employees amid ongoing challenges tied to the coronavirus pandemic, new business strategies and the company’s electronic logging device (ELD) integration. Responding to a FreightWaves inquiry, Trimble on Thursday released the following statement: “We recently implemented strategic changes to the organizational structure of our […]
American Airlines is downsizing. That means the new cargo president and her team are taking on expanded roles.
Covenant continues to reshape the company in efforts to better focus on contract logistics and improve its financial structure.
With the belt tightened at YRC, a covenant waiver and benefits contribution deferral are still required.
