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    Forward Air cuts workforce as it navigates post-merger life

    来源:shippingazette    编辑:编辑部    发布:2024/07/08 09:13:13

    FORWARD AIR announces layoffs as it integrates Omni Logistics, reports New York's FreightWaves.


    The aftermath of numerous layoffs at Forward Air last week continues to unfold.

    Multiple sources informed FreightWaves that job cuts ranged from clerical positions to the C-suite, impacting many sales and technology roles.

    A Forward Air representative could not confirm the number of affected positions but acknowledged the layoffs. Sources estimate 150 positions were cut.

    WARN Act notifications had not appeared on state labour department websites since Monday.

    Shares of Forward Air remain volatile following an August 10 merger announcement with Omni Logistics.

    The transaction aimed to double Forward Air's top line and enhance its competitive edge in the premium, expedited segment of the roughly $60 billion less-than-truckload market.

    However, the approach received immediate backlash from shareholders due to the deal price and increased debt load.

    Some of Forward's existing forwarding customers were also concerned as Omni Logistics, now a competitor, would potentially have access to Forward's linehaul capacity and client lists.

    Forward has pledged to maintain "confidentiality and neutrality" across its wholesale and direct-selling channels.

    Despite the challenges, the deal closed in January. Forward has since been working to integrate Omni, restructure the organisation, and manage the market through two sales channels: its legacy wholesale model and a direct sales unit.