GXO Logistics announced Dec. 3 that CEO Malcolm Wilson plans to retire in 2025, but he will continue to lead the company during the search for a successor.

GREENWICH, Conn. — GXO Logistics this year has laid off more than 500 employees in the U.S., while it plans to cut nearly 400 more positions across two sites, according to public records.

GXO Logistics experienced a 28% jump in revenue as its operations built momentum in the third quarter, the company reported Nov. 5.

The Greenwich, Conn.-based company is working with financial advisers, said sources who asked not to be identified because the details aren’t public.

GXO Logistics saw revenue grow 19% in the second quarter of 2024 to $2.85 billion. However, the contract logistics firm reported a drop in net income to $39 million from $66 million in 2023.

GXO Logistics has opened an approximately 2.1 million-square-foot distribution center in Maryland, a facility that will exclusively serve Conair.

GXO Logistics experienced a decline in earnings on an increase in revenue to $2.46 billion during the first quarter of 2024, the company reported May 7.

GXO Logistics has completed its acquisition of the U.K.-based transport and logistics services company Wincanton, the company announced April 29.

GXO Logistics reported an increase in revenue and earnings year-over-year during the fourth quarter, despite the softer freight market, the company detailed Feb. 14.

Less-than-truckload carrier XPO Inc. has agreed to pay $870 million for 26 owned terminals and two leased properties that previously were operated by Yellow Corp., emerging as a top bidder in the managed sale of the bankrupt LTL carrier’s assets, court documents show.