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XPO | 1450 more jobs to be cut 8% of workforce

xanl/h

xanl/h

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Con-way Lowers 2008 Forecast; Will Cut 1,450 Jobs

Con-way Inc. said Monday it lowered its 2008 earnings forecast and that it plans to cut 1,450 jobs, or 8% of its workforce, as its freight volumes decline.

The company, which has primarily less-than-truckload and some truckload operations, lowered its estimate of full-year earnings from continuing operations to between $2.20 and $2.35 per share, from a previous forecast of $2.60 to $2.80.

“With these business conditions we have no choice but to rationalize our cost structure, realign staffing for current volumes and properly position Con-way Freight,” John Labrie, president of the division, said in a statement.

Con-way is ranked No. 6 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
 
Wondering....

Did John say that these jobs had already been cut or that there were more jobs to be cut?

Would be interesting to see the actual press release from Con-Way.

Anyone know where to find it?
 
:nutkick:Estes Express Lines started their Reduction-in force Monday. They haven't finished so there is no idea how many will be cut at Estes when it all said and done.:TR10driving03:
 
1450 in this go around, 400 earlier with consolidations, misc during the past few months around the country...when you have 340 service centers, an additional 300 are swallowed up pretty quietly..
And XAN, you know what they say, timing is everything...you might want to work on yours a little..
 
They wanted to use the lowest possible sounding number so as to not appear catastrophic.

So in the interest of corporate speak lets twist and qualify our reported numbers to achieve this. Am sure that this practice is well within the parameters of what we like to call our core values.
 
Bankrupt said:
They wanted to use the lowest possible sounding number so as to not appear catastrophic.

So in the interest of corporate speak lets twist and qualify our reported numbers to achieve this. Am sure that this practice is well within the parameters of what we like to call our core values.
Click to expand...

Simply read the statements and analysis from wall street today and you will see that everyone was aware of the previous numbers as well...
 
let's just drive the desk

let's just drive the desk because it hauls the most freight or so the money would seem. we help each other when the work get hard we work for our families and our fellow workers .not for the labrie's and the miller's (60 minutes star):smilie_132::smilie_132:
 
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