RYDER WILL CUT 700 JOBS
Ryder System Inc., a Miami-based transportation and logistics provider, will eliminate 700 jobs in 2001, about 2 percent of the company’s 30,000 employees.
At a recent shareholders’ meeting, Leon Cooperman, Ryder’s ranking shareholder, asked if the company is considering splitting its two main businesses, truck leasing and logistics management. Gregory Swienton, Ryder's chief executive officer, replied that Ryder is studying “all possible ways” to increase its value for shareholders.
Some employees have already left Ryder’s corporate headquarters in Miami, where up to 125 of 1,100 workers will be laid off.