Chattanooga, Tennessee-based Lipsey Logistics has confirmed that it was forced to chop various jobs as the results of a “constrained and declining freight market.”
“Now we have taken [the] initiative for restructuring, controlling cost and mainstreaming efficiencies, which included a discount of our workforce,” Kendal Helms, vp of human resources for Lipsey Logistics, said in an announcement to FreightWaves on Monday.
A source acquainted with the layoffs said an estimated 20 jobs were cut. Helms declined to reveal the precise variety of employees affected or the share of the corporate’s workforce that was a part of the layoffs.
“The reduction in force was based on business necessity, and our initiatives kept the lack of employees minimal as compared to other corporations in our industry,” Helms said.
FreightWaves’ Rachel Premack reported in February that freight brokerages had seen massive cuts of around 1,000 jobs in the primary two months of the 12 months. That number continues to rise due to record-low freight rates amid soaring operating costs.
Helms said Lipsey plans to support the workers who were impacted by the recent layoffs.
“Now we have at all times valued our employees and deeply regret the necessity for this motion,” she said.
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