Posted on 04/14/2024 2:43:53 PM PDT by CFW
Layoffs continue across the freight and logistics industry, with companies in Florida, Georgia, Illinois, Michigan and Texas announcing job reductions and facility closures over the past two weeks.
Universal Logistics Warren, Michigian-based Universal Logistics is permanently shuttering two of its subsidiaries and laying off a total of 677 employees, according to notices recently filed with the state.
The layoffs are related to Universal-operated entities Logistics Insights Corp. and Universal Dedicated of Detroit, an auto parts warehousing and logistics facility. Both operations were in Detroit.
Universal Dedicated of Detroit’s closure will affect 230 truck drivers who worked from the facility. Logistics Insights Corp.’s closure includes 164 warehouse workers, 212 forklift operators, 26 dockworkers and 45 clerical employees.
Universal Logistics (NASDAQ: ULH) is a truckload transportation, intermodal and logistics provider across the U.S, Mexico, Canada and Colombia. The company has more than 10,000 employees.
It did not provide a reason for the cessation of operations at the two entities in their state filings.
Officials for Universal Logistics did not immediately respond to a request for comment from FreightWaves.
Swissport Cargo Services Global cargo handler Swissport Cargo Services recently announced it is laying off 235 workers at a cargo handling operation in Atlanta.
(Excerpt) Read more at freightwaves.com ...
Brandon’s idiotic policies are the chief cause of this, he passed all kinds of bad executive orders that caused the near destruction of the trucking industry.
I work in logistics. I hope I get laid off too!
Waiting on the news media to jump on this like they did to come help obama get elected.
Bush fault irregardless
AI is on the march. The machines decided you don’t need all that stuff, like food, medicine or cleaning supplies, ‘cause you’ll be dead soon.
Well, you can’t have those people holding protest convoys that will have to be crushed.
You replied "A great and growing economy does not have lay-offs in its freight industries."
It's as simple as that. The "Officials" didn't need to say anything.
Meant extinct but I don’t care because I’ve been drinking lol.
Bidenomics working exactly as planned and expected
That’s gonna keep a load of south of the border caravan trash outta work and living off the U.S. taxpayers. Nice!
My husband works in logistics too, but we aren’t that cavalier. He is nearing retirement, though, so we need every penny of his earnings for another couple of years.
I will say that he was never busier than during the lockdowns. That has let up some.
He said he thinks this company just lost a contract, and many of those folks, if they have experience, might be hired by the company that won the contract. It will be awful for some people though. We don’t relish being laid off in this economy. FJB.
Universal Logistics (ULH) looks healthy. They may be making the shift to AI (it’s perfect for logistics).
I can’t ever reading a story about Wall St, a hedge fund or some other equity type company gets control and destroys a company.
Making cuts everywhere, expecting workers that kept their job to do more and get the “even don’t like it we’ll find that will”.
Lots of companies have fallen prey to this to ‘activist investing’, CSX and NS are just two that had some legit consequences.
They, Biden and Fed, are engaged in super-lying right now about how ‘great’ things are. And national, state and local MSM are all-in on helping them pass the lies.
This is not exactly daddy’s DJTI.
Uber is the largest component.
The nation was shut down for a while as folks received endless packages at home.
I started looking them up to see who led the sell off.
I stopped at UPS which is down 30% or something-
Fuel prices and transport regulations have soared under Biden.
Equity markets are setting records while this index was lower.
The economy in the SE is booming, the economy in some of the SW is booming. NY and CA are around par.
I’m not a buyer in it being the canary in the coalmine this time.
It might be that simple but we have a guy who is going on tripling fuel prices and instituting libraries of regulations along with a speciously declared life changing tech called AI.
The we are in a recession crowd ignores that a contracting economy doesn’t have hot inflation reports b2b2b.
I’m not a Biden apologist. I missed the market rally as I just refuse to invest with the most anti business administration ever running things. I’m hoping for a sell off to plunge back in when President Trump returns. My friends in FLA, GA and Phoenix tell me things are busy as can be -in NY and CA they say OK but could be better. Most of that is confirmed via less corrupted state provided econ stats.
I call them like I see them.
Yeah...my hub just showed me the WOKE Website of a local utility water provider. I laughed and said...soon woke will not matter...people will be fighting for their lives. (Yes, I’m in that kind of frame of mind today.)
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