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 […]
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.
Tough times call for drastic measures and Lufthansa sees the writing on the economic wall. It’s wasting no time shrinking for a smaller future.
Daseke expects weakness in the industrial markets and oil and gas sectors to persist. Management said the environment was sequentially weaker in the first quarter.
Into its second decade of existence, Daseke pumps the brakes on acquisitions and attempts to streamline all that it has bought.
Change in equity control looming.
USA Truck’s shares fall after another earnings disappointment. New turnaround initiatives were quantified on the company’s conference call.
Daseke, Inc. reports a large loss amid operational restructuring and weaker flatbed demand. The company announces new initiatives as its reorganization continues.
Daseke eliminates the role of president as it increases and accelerates its cost savings initiatives. The company will continue to search for a new CEO and begin looking for a new CFO.
