Citing “a strong economic recovery with robust freight demand,” less-than-truckload carrier Old Dominion Freight Line (NASDAQ: ODFL) announced Thursday plans to add 800 drivers and more than 400 dockworkers and clerical personnel.
The Thomasville, North Carolina-based company said it was looking to add Class A CDL drivers over the next three months to meet growing demand. The plans include hiring 275 linehaul drivers, 260 pickup and delivery drivers and 100 team drivers. It will also add more than 430 workers on its docks over the same time period.
Average pay for new linehaul drivers will be $99,000, with pickup and delivery drivers earning $73,000 annually. The full-time, nonunion positions also offer health insurance, 401(k) and paid vacation. Old Dominion will pay a $5,000 signing bonus for qualified drivers in certain locations.
“Our OD people are the heart of our operations and we’re looking to add to our workforce in response to a growing demand for our premium service,” said Marty Freeman, EVP and COO at Old Dominion. “There’s never been a better time to consider a career in transportation. These career opportunities offer a great work-life balance, a competitive compensation package, on-the-job training and career advancement opportunity.”
LTL competitor Yellow Corp. (NASDAQ: YELL), formerly YRC Worldwide, announced it was adding 1,500 drivers and opening 12 new driver academies last month.
Old Dominion’s announcement comes as the carrier is executing a terminal expansion plan, which produced nine new or expanded facilities in 2020. Similar additions are planned for 2021. The facility expansion is part of the company’s efforts to increase market share in a favorable trucking environment.
On Tuesday, the carrier announced that year-over-year trends in February (revenue +9.2%) slowed from more robust growth seen in January (revenue +14.6%). Severe winter storms were noted as the reason for the deceleration in the growth rate. Even with the slowdown, the carrier fared better than others in the month.
Saia (NASDAQ: SAIA) reported a 2.3% year-over-year decline in February tonnage after posting a 5.4% increase in January. The company said roughly 70 terminals were fully or partially offline for several days during the month.
ArcBest Corp. (NASDAQ: ARCB) reported flat tonnage through the first two months of the year in its asset-based segment as February wiped out a 6.6% year-over-year increase to start the year.
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