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C.H. Robinson lays off about 650 employees (Truck brokerage)
freightwaves.com ^ | November 9, 2022

Posted on 11/10/2022 7:13:53 PM PST by lowbridge

Truck brokerage giant C.H. Robinson Worldwide Inc. laid off approximately 650 employees this week, the company confirmed Thursday. Sources close to the situation originally estimated the number would be closer to 1,000, possibly up to 1,200.

The move comes a week after the Eden Prairie, Minnesota-based company (NASDAQ: CHRW) reported weaker-than-expected, third-quarter results and strongly hinted at impending labor cost reductions to combat the impact of slowing demand and increased costs.

“We got ahead of ourselves in terms of head count,” said Bob Biesterfeld, Robinson’s president and CEO, on a post-earnings call. Robinson employs nearly 17,000 people.

Biesterfeld said he did not forecast truckload demand declining as rapidly as it did, as well as spot market and contract rates deflating considerably.

(Excerpt) Read more at freightwaves.com ...


TOPICS: Business/Economy
KEYWORDS: economy
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1 posted on 11/10/2022 7:13:53 PM PST by lowbridge
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To: lowbridge

I was offered a job with them when I graduated college 23 years ago, I am glad I turned them down.


2 posted on 11/10/2022 7:16:08 PM PST by DMD13
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To: lowbridge

It begins.


3 posted on 11/10/2022 7:17:24 PM PST by cowboyusa (America Cowboy up! )
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To: lowbridge

This is a very bad sign.


4 posted on 11/10/2022 7:18:55 PM PST by laplata (They want each crisis to take the greatest toll possible.)
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To: lowbridge

Trucking just a short time ago had a lot of loads needing hauling. There were constant ads on the radio of different trucking companies trying to attract drivers.


5 posted on 11/10/2022 7:21:30 PM PST by C19fan
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To: lowbridge

Maybe freeper ‘extremely extreme extremist’ (sp) could enlighten us. I think he’s in trucking logistics.

As a semi retired trucker observing the economy, I thinking that the gift giving is going to be significant lower, and thus less trucking.


6 posted on 11/10/2022 7:21:31 PM PST by Zuriel (Acts 2:38,39....Do you believe it?)
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To: lowbridge

I wonder how freight over rail is going. Has all the issues of not enough trains to move what was being asked disappeared too.


7 posted on 11/10/2022 7:22:48 PM PST by C19fan
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To: Zuriel

With 17,000 employees, 650 is what,... about 4%?


8 posted on 11/10/2022 7:25:43 PM PST by Zuriel (Acts 2:38,39....Do you believe it?)
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To: lowbridge

On Ace.com, he was talking about a trucking company that went woke to cover how badly the son of the founder was running the company.

I don’t remember the name, so this may be that company.


9 posted on 11/10/2022 7:31:37 PM PST by Jonty30 (Some men want to see the world burn. It is they that want you to buy an electric car.)
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To: C19fan

If the way that CSX and NS have been conducting business for the last 5 years, following the Hunter Harrison business model of firing as many people as they can until there’s barely enough to run trains, are a barometer of the freight rail industry then it still sucks, probably.

Harrison did a lot of damage to CSX, NS followed suit and both are scrapping to find employees. Used to be that guys were waiting to fill those positions. Now, both companies are advertising on highway billboards. Something they’ve never had to do.


10 posted on 11/10/2022 7:36:31 PM PST by qaz123
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To: lowbridge

I’ve been saying this all year, this scares me more than anything, more that the open border, more than defunding the cops and military, more that the high crime.

When the Marxist enemy occupation of our government starts effin’ up the trucking industry, then they are messing with our lives, the lives of 330 million people. They are screwing with food distribution, water distribution, fuel distribution, medicine distribution, on and on and on.


11 posted on 11/10/2022 7:46:40 PM PST by GrandJediMasterYoda (As long as Hillary Clinton remains free, the USA will never have equal justice under the law)
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To: Zuriel

4% is too many. It’s a bad sign.


12 posted on 11/10/2022 7:48:43 PM PST by laplata (They want each crisis to take the greatest toll possible.)
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To: lowbridge
The Biden occupation year 2023

"Hey Marge, there may not be any food, but at least abortion is legal"


13 posted on 11/10/2022 7:50:05 PM PST by GrandJediMasterYoda (As long as Hillary Clinton remains free, the USA will never have equal justice under the law)
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To: C19fan

Trucking just a short time ago had a lot of loads needing hauling. There were constant ads on the radio of different trucking companies trying to attract drivers.


Yep.

How quickly things have changed.


14 posted on 11/10/2022 7:52:12 PM PST by Jane Long (What we were told was a “conspiracy theory” in 2020 is now fact. 🙏🏻 Ps 33:12)
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To: lowbridge

I follow an Owner-Operator and a small (20 or so truck) Trucking company, both on Youtube. It is getting very bad.

One of them said something to the effect... Everything you eat, wear, drive, everything, trains, tractors.... relies on deiseal. The only time gasoline is used is when you pick it up at the store.


15 posted on 11/10/2022 7:56:38 PM PST by Bryan24 (When in doubt, move to the right..........)
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To: Zuriel

It’s not looking good. I just got moved to another part of the company. Fortunately I have seniority so I’ll be taken care of.


16 posted on 11/10/2022 8:06:19 PM PST by Extremely Extreme Extremist
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To: Bryan24

Same with construction. Earth moving equipment, tractors, backhoes, bobcats, loaders, cranes, etc. are diesel powered, too.


17 posted on 11/10/2022 8:11:53 PM PST by Four of Six
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To: laplata

It is going to get a hell of a lot worse. The Nation is about to get what it has been praying for when it replaced President Trump and embraced Lying Joe Biden. They will freeze to death this winter and will have no food to eat this spring. But at least they got rid of Trump and abortion[s] will be legal and free. Enjoy. And remember this is what the people voted for. The voters taught Trump a lesson. And they showed Almighty God who was boss.


18 posted on 11/10/2022 8:21:51 PM PST by sport
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To: lowbridge

If truckers would refuse to go into the Blue cities, esp. DC...maybe, just maybe something would change.


19 posted on 11/10/2022 8:25:46 PM PST by goodnesswins (The Chinese are teaching calculus to their 3rd graders while ours are trying to pick a pronoun.)
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To: sport

Well I forsee and angry America getting much more angrier.


20 posted on 11/10/2022 8:29:22 PM PST by caww (O death, when you seized my Lord, you lost your grip on me......Augustine)
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