Chicago-based freight brokerage Coyote Logistics confirmed Friday that it has slashed a number of jobs in its sales and operations divisions, but it declined to disclose the number of employees affected or the percentage of the company’s workforce that was part of the layoffs.
The move comes nearly a month after Coyote Logistics, a subsidiary of UPS Inc. (NYSE: UPS), offered voluntary separation agreements to a number of senior managers and directors, which marked the fourth round of layoffs at the brokerage in 2023.
In a statement to FreightWaves, Coyote said the company is aligning its “Sales and Operations structures with the needs of our business. Unfortunately, we had to make the difficult decision to eliminate some positions.”
“Our people are extremely important to us, and we’ve taken steps to minimize the number of employees impacted,” a Coyote spokesperson said in the statement. “We are providing comprehensive severance and outplacement services to support those impacted. These changes are difficult but necessary to ensure our workforce and corporate structures support our business needs as they evolve.”
Early Friday morning, Coyote employees said they received an email from the company’s human resources department about the layoffs at the digital brokerage.
The email, obtained by FreightWaves, states that “news of another headcount reduction is not an easy way to start the year. Your leadership and our HR team are here to support you during this time.”
The Coyote employees were told that Sandeep Pisipati, who replaced Jonathan Sisler as CEO in September, “will be communicating more details surrounding this restructuring event this afternoon.”
Earlier this week, another Chicago-based digital brokerage, Uber Freight (NYSE: UBER), announced it was slashing as many as 50 jobs.
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