Knight-Swift starts layoffs...America's second largest carrier...due to economic slowdown...

[Missourian]

Supply chain logistics like Trucking, Shipping and Rail are upstream from Wall St. and Main Street.

When the wave of economic bad news washes towards shore, it hits our sector first.

The collapse of Yellow Freight was likely the first red flag you who depend on Legacy Media heard about, but it was actually the lack of freight that preceded the collapse of spot rates that was a major contributor to Yellow's failure...

This is more bad news...

Knight-Swift lays off employees after expressing market weakness

Laid-off employees came from support departments including Human Resources, Information Technology (IT) and other ancillary support roles. IT roles affected by the event included business analysts, scrum masters, quality analysts, product managers, and project managers.

www.freightwaves.com

In other unsettling news...Coyote Logistics, America's third largest freight brokerage has ALSO laid off 7% of it's workforce...

Coyote Logistics restructures, lays off unspecified number

Coyote, a $5.2 billion freight broker, just announced layoffs again. The trucking industry is in a recession.

www.freightwaves.com

C.H. Robinson, America's largest freight broker has been continuously downsizing it's staff as well...

C.H. Robinson lays off 300 employees

Cuts at C.H. Robinson impact 2% of its global workforce.

www.freightwaves.com

And last but not least, Schneider National... America's largest multi-modal trucking carrier... Downgraded their economic outlook by 13% in August.

Schneider National lowers 2023 guidance

Multimodal provider Schneider National reeled in its 2023 earnings outlook by roughly 13% on Thursday.

www.freightwaves.com

Forewarned is forearmed.

 

[Crepitus]

Supply chain logistics like Trucking, Shipping and Rail are upstream from Wall St. and Main Street.

When the wave of economic bad news washes towards shore, it hits our sector first.

The collapse of Yellow Freight was likely the first red flag you who depend on Legacy Media heard about, but it was actually the lack of freight that preceded the collapse of spot rates that was a major contributor to Yellow's failure...

This is more bad news...

Knight-Swift lays off employees after expressing market weakness

Laid-off employees came from support departments including Human Resources, Information Technology (IT) and other ancillary support roles. IT roles affected by the event included business analysts, scrum masters, quality analysts, product managers, and project managers.

www.freightwaves.com

In other unsettling news...Coyote Logistics, America's third largest freight brokerage has ALSO laid off 7% of it's workforce...

Coyote Logistics restructures, lays off unspecified number

Coyote, a $5.2 billion freight broker, just announced layoffs again. The trucking industry is in a recession.

www.freightwaves.com

C.H. Robinson, America's largest freight broker has been continuously downsizing it's staff as well...

C.H. Robinson lays off 300 employees

Cuts at C.H. Robinson impact 2% of its global workforce.

www.freightwaves.com

And last but not least, Schneider National... America's largest multi-modal trucking carrier... Downgraded their economic outlook by 13% in August.

Schneider National lowers 2023 guidance

Multimodal provider Schneider National reeled in its 2023 earnings outlook by roughly 13% on Thursday.

www.freightwaves.com

Forewarned is forearmed.

So no more trucker shortage?

Cool. Maybe they can get my packages here on time for a change.

 

[Missourian]

So no more trucker shortage?

Cool. Maybe they can get my packages here on time for a change.

You're talking last mile deliveries.

If you ordered it online...they already had it in the warehouse.

 

[Crepitus]

You're talking last mile deliveries.

If you ordered it online...they already had it in the warehouse.

Nope, I regularly need parts for my cars that have to come from as far as europe..

SO no more trucker shortage?

 

[Hossfly]

Nope, I regularly need parts for my cars that have to come from as far as europe..

SO no more trucker shortage?

No truck shortage as those big rigs are about 98 feet long.

 

[Crepitus]

No truck shortage as those big rigs are about 98 feet long.

TruckER. Not truck.

A standard trailer is 53 feet. Even with cab and sleeper you're only getting to 70-75. A 100 foot rig would be really hard to drive on regular streets.

 

[Missourian]

Nope, I regularly need parts for my cars that have to come from as far as europe..

SO no more trucker shortage?

I'm not sure there ever was a trucker shortage.

There's a shortage of people willing to be away from home, work long hours driving with a bunch of reckless idiots then spend 8 hours in a dock waiting to get unloaded...a privilege they are then billed for in the form of lumpers fees...and finally struggle to find some parking...for the basically the same per mile wages I was making 20 years ago.

 

[Crepitus]

I'm not sure there ever was a trucker shortage.

There's a shortage of people willing to be away from home, work long hours driving with a bunch of reckless idiots then spend 8 hours in a dock waiting to get unloaded...a privilege they are then billed for in the form of lumpers fees...and finally struggle to find some parking...for the basically the same per mile wages I was making 20 years ago.

The news for the last decade has been that there is a trucker shortage.

Did that just evaporate?

Driver Shortage Hits Highest Recorded Level in 2015

An ATA report is projecting a shortage of 48,000 drivers by the end of 2015, marking the highest recorded level in trucking's history.

www.truckinginfo.com

 

[John Edgar Slow Horses]

And you have 8mm other decent paying jobs to choose from, Missourian. Just stop it, bless your heart.

 

[Hossfly]

TruckER. Not truck.

A standard trailer is 53 feet. Even with cab and sleeper you're only getting to 70-75. A 100 foot rig would be really hard to drive on regular streets.

I know. Those UPS trucks with double trailers have a hell of a time making sharp turns.

 

[odanny]

Yellow Freight was having financial difficulties before your boy was President.

 

[Rambunctious]

BIDENNOMICS!!!!!!

 

[Dekster]

Welcome to what the race to the bottom looks like. The free delivery has to be paid for by somebody.

 

[Moonglow]

So no more trucker shortage?

Cool. Maybe they can get my packages here on time for a change.

Don't hold yer breathe, I am waiting 40 days for delivery

 

[Missourian]

The news for the last decade has been that there is a trucker shortage.

Did that just evaporate?

Driver Shortage Hits Highest Recorded Level in 2015

An ATA report is projecting a shortage of 48,000 drivers by the end of 2015, marking the highest recorded level in trucking's history.

www.truckinginfo.com

Don't think it was ever really a thing...just marketing for the ATA to try to attract government subsidies and cheaper labor.

They achieved one of their goals...to allow 18 year olds to drive interstate.

Didn't work out the way they planned.

 

[Moonglow]

I didn't think that Swift had any rigs on the road since they wrecked them all.

 

[Missourian]

I didn't think that Swift had any rigs on the road since they wrecked them all.

Swift is the company caught training illegal aliens in Memphis.

FBI executes search warrants at Memphis trucking company

FBI agents executed search warrants Monday at the office of Swift Transportation in Memphis and Swift's training grounds near Millington Regional Jetport, officials said.

www.actionnews5.com

 

[Missourian]

And you have 8mm other decent paying jobs to choose from, Missourian. Just stop it, bless your heart.

Are you saying "learn to code", John?

That's harassment...

"Learn to Code": The Meme Attacking Media

Laid-off journalists and their supporters have seen their Twitter mentions littered with a phrase that some are suggesting is part of a targeted anti-media harassment campaign. What does it all mean?

www.theringer.com

 

[Missourian]

The news for the last decade has been that there is a trucker shortage.

Did that just evaporate?

Driver Shortage Hits Highest Recorded Level in 2015

An ATA report is projecting a shortage of 48,000 drivers by the end of 2015, marking the highest recorded level in trucking's history.

www.truckinginfo.com

Better article on the "truck driver shortage"...

The Truck Driver Shortage Is Fake News

According to the Bureau of Labor Statistics, the driver shortage touted by the ATA is fake news.

www.forbes.com

 

[Moonglow]

Swift is the company caught training illegal aliens in Memphis.

FBI executes search warrants at Memphis trucking company

FBI agents executed search warrants Monday at the office of Swift Transportation in Memphis and Swift's training grounds near Millington Regional Jetport, officials said.

www.actionnews5.com

My eldest son is a trucker and once worked for Swift and is always mentioning their survival tactics.