C.H. Robinson shed 650 jobs

C.H. Robinson, the truck brokerage giant, laid off about 650 employees after the company said the truckload demand cooled quicker than expected. 

The company had 17,000 employees, with CEO and President Bob Biesterfield saying to investors in a Q3 earnings review that they did not expect spot market and contract rates to deflate as considerably as it has. 

A review and scaling of their business model to be more efficient led them to the position to reduce the overall cost structure, the company said in a statement.

Source: www.freightwaves.com

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