WERNER Enterprises To Lay Off 500 - Truckers' Trucking Forum | Message Board

AfterShock · **^ Top** #1 03.20.2008

Has anyone heard the rumor that Werner Enterprises, Inc., is going to lay-off 500 employees?
Can anyone confirm this?

Cybergal · **^ Top** #2 03.20.2008

Found this so far, a QUOTE of what they have said.

Quote:

"We believe that the continuation of a soft freight market and the spike in fuel prices are making it increasingly more difficult for many truckload carriers to stay in business. An acceleration of trucking company failures may cause a decline in industry truck capacity and could improve the supply/demand balance in our industry," the company stated in a Form 8-K filed with the Securities and Exchange Commission.

http://www.tradingmarkets.com/.site/...0News/1221742/

MedicineMan · **^ Top** #3 03.20.2008

I heard from some drivers at least 2 months ago that werner laid them off and was laying off others at that time also. 500 really isn't much to them though. They should do more and should have done it last year.

AfterShock · **^ Top** #4 03.20.2008

This could be that silver lining in the cloud if the major companies finally decide that raising freight rates is necessary to stay afloat.

Of course, if the majors lay-off drivers, it'll probably hurt the newbies and wannabes chances of being hired, as I'm thinkin' the Big truck truckin' companies will opt for experience instead of lower pay for the trainees who'll require a trainer to hold their hand. I think they'll depend more on those who'll get-'er-done, without supervision.
Well,............. except for C.R. England.
But I'd laugh if C.R. found themselves with a bunch of former lease/purchase Big trucks on their hands, sitting in their armed guarded yards, with nobody foolish enough to take over payments -- even at gun-point.

Werner Enterprises, according to what Cybergal posted on the home page, "sank $1.07 a share, or 5.8%, to $17.43.
J.B. Hunt is down 94 cents, or 3.1% a share, to $29.82.
Heartland sank 79 cents a share, or 5.4%, to $13.92.
Con-Way Inc. retreated $1.65 a share, or 3.3%, to $48.59.
YRC Worldwide, Inc., lost $1.04 a share, or 8.4%, to $11.22, after dropping to $10.99, their lowest point since late 1998."

According to Forbes.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

See folks!
If y'all read what Cybergal posts, y'all can appear intelligent -- like me.

Thanx Cybergal.

After reading your informative posts, even though the economy is down, my IQ appears to be going UP.
Quite an illusion.
Imagine that.

And go figure.

Cybergal · **^ Top** #5 03.20.2008

Quote:

Thanx Cybergal.

After reading your informative posts, even though the economy is down, my IQ appears to be going UP.
Quite an illusion.
Imagine that.

And go figure.

Well at least something is on the rise!

LeadfootSlider · **^ Top** #6 03.20.2008

Quote:

Originally Posted by MedicineMan

I heard from some drivers at least 2 months ago that werner laid them off and was laying off others at that time also. 500 really isn't much to them though. They should do more and should have done it last year.

They don't layoff, they just do not hire to fill vacant slots:

"In mid-March 2007 we began reducing our Van medium-to-long-haul fleet by 250 trucks, or about 8% of total Van solo driver trucks, to better match freight and trucks and to improve profitability. By the latter part of April 2007, this initial goal was achieved, and we had not yet achieved the desired balance of trucks and freight. As a result, we decided to further reduce our Van fleet by an additional 400 trucks, which we completed by the end of June 2007. We were able to transfer a portion of our Van fleet trucks to other more profitable fleets. The net impact to our total fleet was an approximate 500-truck reduction from mid-March 2007 to the end of June 2007."

To view full press release:
[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. =

And that was last year. I read another article but I can't remember where, late last year, where the company was expecting to reduce the fleet by another 400-500 trucks. It's really not a big deal. If you read through their financial reports they do fleet reductions every year. Its really just shuffling: take out some solos, hire more teams, hire more dedicated, blahblahblah. Get more accounts, hire more solos, hire less teams, blahblahblah.

wc5b · **^ Top** #7 03.20.2008

Loading Dock on Sirius said today that they put out a statement that said they will be reducing there fleet by 20 some percent.

LeadfootSlider · **^ Top** #8 03.20.2008

Quote:

Originally Posted by wc5b

Loading Dock on Sirius said today that they put out a statement that said they will be reducing there fleet by 20 some percent.

I can't find any press release stating that. Still looking. If I find it I will post a link.

Cybergal · **^ Top** #9 03.20.2008

Quote:

Originally Posted by LeadfootSlider

I can't find any press release stating that. Still looking. If I find it I will post a link.

I can't find it either and I get alot of news to go through..lol

LeadfootSlider · **^ Top** #10 03.20.2008

Quote:

Originally Posted by Cybergal

I can't find it either and I get alot of news to go through..lol

The last thing I checked was Werner's site, in the investor's link, and nothing was posted. I will check again tomorrow.

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