ArcBest has announced a series of organizational changes, including cutting about 280 jobs, closing 10 terminals, and streamlining its brand structure.
The Fort Smith, Ark-based motor carrier said the job cuts represent about 2% of overall positions. They will come primarily from “employee separations, the elimination of certain open positions, and the non-replacement of certain positions vacated through retirements and other attrition.”
In addition, ArcBest said it will close 10 ABF Freight locations in smaller markets, representing about 1% of its network’s doors. ABF is the less-than-truckload division and largest ArcBest subsidiary.
The company is also bringing its MoLo Solutions, Panther Premium Logistics, and ArcBest Technologies operations under the ArcBest brand as of Aug. 1.
“Bringing MoLo and Panther capabilities together under one ArcBest brand better unifies us as one team for a more coordinated experience across our solutions,” said ArcBest President and CEO Seth Runser.
The company is also ending its Vaux Freight Movement System and will shift additional attention to the Vaux Smart Autonomy system. ArcBest said it expects to improve operating efficiency and generate $40 million in annualized cost savings through these measures.
In June, ArcBest raised its second-quarter outlook, saying it expects a better operating margin. The company reports its quarterly results later this month.
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