Inside: FedEx's market triumph, the controversy at Yellow Corp, Waabi and Uber Freight's decade deal, and the hammer comes down on PPP loan-scamming trucker.
As 2023 seasonal hiring gets underway, some retailers are cutting back on workers while others are hiring more.
Analysis of TuSimple's challenges in the autonomous trucking industry and FedEx's impressive financial performance surpassing expectations.
As worker expectations soar, shippers, exemplified by UPS, are navigating the fine balance between employee satisfaction and market competitiveness.
The shipping industry, as exemplified by United Parcel Service (UPS), is undergoing a transformative phase. Central to this transformation is the rising expectation of workers for higher pay and enhanced benefits. UPS's recent foray into a new labor agreement with the International Brotherhood of Teamsters—worth an estimated $30 billion and covering approximately 340,000 workers—offers a snapshot into this shifting landscape. While the pact prevented a potentially devastating strike, the lengthy negotiations were not without repercussions, resulting in the loss of some key customers for UPS. This industry-wide trend suggests a broader challenge for shippers: balancing between meeting worker demands and ensuring operational sustainability. With the risk of strikes and the real threat of losing customers, shippers need to recalibrate their strategies, emphasizing the value of their workforce while ensuring they remain competitive in the market.
Reactions:
— Jeffrey Young (@JeffreyDYoung) August 12, 2023
(1) Workers know this is a good deal. Everyone talking about 170K/yr for a UPS driver. Job searches for "UPS" are way up
(2) UPS will pass this through to record-high "General Rate Increases" (GRI) that firms that use UPS have to pay. https://t.co/HTrNHnShqG https://t.co/qfSzImtqNq
Molson Coors, recognized as 2023's Shipper of Choice, excels in supply chain management, shipping 13M barrels of beverages annually.
Tornado damages Pfizer plant in North Carolina, affecting 50,000 pallets of medication and potentially impacting nationwide supply.
The US labor market is showing signs of stabilization as the rate of voluntary job quitting approaches pre-pandemic levels and employers implement better retention strategies.
Coyote Logistics and Knight-Swift make strategic layoffs amidst industry challenges. What does that mean for the market?
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