C.H. Robinson Is Laying Off 300 Extra Staff
In a earlier announcement, the corporate in November mentioned 650 workers would lose their jobs. (C.H. Robinson)
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Logistics firm C.H. Robinson is chopping one other 300 workers, the second spherical of layoffs in seven months.
“This impacted colleagues throughout the corporate, however primarily in shared providers and non-engineering expertise roles,” mentioned Duncan Burns, C.H. Robinson’s chief communications officer, through electronic mail.
The discount was a bit lower than 2% of the worldwide workforce, he mentioned.
The Eden Prairie, Minn., firm in November mentioned 650 workers would lose their jobs. In that announcement, the corporate pointed to a slowing economic system and lowering freight demand.
“These selections are by no means straightforward to make,” Burns mentioned in a press release concerning the most recent layoffs. “Nonetheless, they’re mandatory for the corporate’s long-term success.”
C.H. Robinson has been struggling just lately, with decreased income and earnings in every of the earlier three quarters. The corporate had been lapping very sturdy quarters within the year-ago durations, however outcomes have been under analysts’ consensus expectations.
In the beginning of the yr, the corporate’s former CEO, Bob Biesterfeld, resigned abruptly. Within the firm’s earlier earnings name, interim CEO Scott Anderson mentioned a brand new chief government could be named by June 30.
Shares of C.H. Robinson are down greater than 9% because the begin of the yr.
C.H. Robinson Worldwide ranks No. 1 on the Transport Subjects Prime 100 record of the most important logistics firms in North America.
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