Echo, Saia Trim Their Staffs In Wake Of COVID-19

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Two more significant companies in the trucking and transportation field have implemented layoffs and furloughs.

In response to an email query from FreightWaves, Doug Waggoner, the CEO of Echo Global Logistics, Inc. (NASDAQ: ECHO), said the third-party logistics provider (3PL) had a “small reduction” in staff this week that constitutes less than 5% of the company's workforce. In Echo's 10-K filing with the Securities and Exchange Commission for 2019, it listed 2,539 employees, up from 2,335 in 2015. 

“A large portion of these were furloughs and will come back as business conditions dictate,” Waggoner wrote. Of those who were not furloughed but dismissed from the company, they were provided with severance, according to …

Full story available on Benzinga.com

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