RUTHERFORDTON, N.C. – North Carolina trucking firm FreightWorks Transport has shuttered its doorways after an abrupt lack of enterprise. Greater than 200 staff have been laid off.
Workers have been notified of the closure by way of a video message according to FreightWaves, which defined that the corporate’s main prospects had demanded main price and quantity concessions. One buyer withdrew a big proportion of its freight on Feb. 28, the message mentioned.
That had an “fast and devastating” affect on the corporate’s potential to remain afloat, in line with the message. Consequently, the choice was made to close down.
As last deliveries are being made, the corporate careworn that every one staff will likely be paid, with $500 bonuses given to drivers who ship hundreds as soon as a invoice of lading is signed.
The corporate additionally cited a weak freight market.
The trucking business has been severely affected by worsening market situations since mid-to-late final 12 months, with many cases of shutdowns and mass layoffs happening. A few of these embrace C.H. Robinson (650 layoffs), Ryder System (800), Flexport (700), Embark Trucking (230) and Uber Freight (150).
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