Con-way to Close 40 Terminals
Con-way Inc. said it will close 40 truck terminals to streamline its operations and save $30 million to $40 million per year.
The shutdowns will affect its Con-way Freight less-than-truckload carrier unit, the company said late Monday.
Freight from the locations will be redistributed among more than 100 other service centers,” Con-way said.
While it did not release how many jobs would be lost, a spokesman told Bloomberg that the cuts would involve than 1% of Con-way’s 20,400 employees.
It expects to complete the changes by early December, and some employees will have the option to move to other facilities, with about 100 other facilities in the United State and Canada handling the freight from centers to be closed, Bloomberg reported.
More than 75% of affected employees at closing locations will have the opportunity to follow work to a new operating location, Con-way said.
Con-way is ranked No. 6 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
