XPO Logistics has cut approximately 190 jobs as part of its previously announced synergy plans in its less-than-truckload acquisition from Con-way, according to a press release.
The majority of layoffs involved non-sales positions, with 160 of those jobs eliminated. Of those job cuts, the majority were in administrative, management and back office functions. Less than 1 percent of the LTL workforce in North America was affected, according to the press release. Approximately another 30 positions were cut as a result of redundancies from the acquisition of Con-way.
XPO expects to save more than $20 million in annual costs from the job cuts. Since XPO acquired Con-way last October, the logistics corporation has earned about $50 million of expected annualized savings.
In an interview with Bloomberg last September, XPO CEO Bradley Jacobs said that drivers were “very important” and XPO intended to keep all the drivers. To date, the majority of layoffs have occurred in the administrative, management and executive offices.
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