Paycuts and layoffs

Hi everyone. I'm not a driver but I come from a family of truckers (all LTL, and almost all City, but darn near all over the country...). I've always been close to the industry, worked as a dispatcher for a while, and did imports for FedEx.

What's been on my mind is all the wage and benefits cuts, layoffs, and give backs that has affected some parts of my family but not others (both union and non-union).

Many companies are small or privately held and don't turn up in the news, but I am just curious where everybody stands.

The news is always talking about what bad shape trucking is in and how truckers are a barometer for the rest of corporate America. But no media-people seem to really be tracking all the trucking companies (outside of the big ones like YRC and Con-Way) and what drivers are really having to give up, or how many are out of work, etc. How bad is it, really?

What kinds of cut-backs, give-backs, layoffs, etc. have you experienced or heard about?

 

Thanks. I had the feeling I came to the right place. I have been visiting a lot of forums just to try and keep a list for myself, so when we look back, I can say, "THIS is how bad it was...", or when my uncles gripe about their job, I can say, "Well, at least you don't have it as bad as...".

Maybe it is a stupid exercise, but I figure if no one else is gonna' do it... here are the ones people have told me about or I have seen in the news (and remembered to write down) so far:

YRC (All YRC companies, I think) 10% PAY CUT, LAYOFFS 3750 employees laid off, but union employees get 15% ownership stake in exchange. Non-union get 7% stake and probably bigger pay cuts. Executives got cuts too, with no stock options. YRC cut 15% of staff when they merged with Roadway.

USF REDDAWAY 10% PAY CUT (Under YRC), plus (quote from a discussion board): "We peons here at corporate got hit with a 20 hr per month hours reduction last week, and were informed yesterday that we are taking the 10% pay cut as of the first of the year also."

FEDEX FREIGHT HIRING FREEZE; 5% PAY CUT, LAYOFFS 450 laid off Salaried people 5% pay cut; executives 7.5 to 10% (CEO took 20%); 401k match suspended, and they are on a hiring freeze.

BENTON EXPRESS 5% PAY CUT

ABF LAYOFFS 340, Also eyeing YRCW deal--sent memo to employees warning of adopting similar concessions.

CON-WAY LAYOFFS 1450, plus closed 40 terminals so far.

OAK HARBOR (OHFL) BENEFITS CUTS Eliminated Sick Leave, Seniority, and switched plans from Union to Company insurance. Teamsters still striking.

SOUTHEASTERN FREIGHT LINES MANDATORY TIME OFF Rotating 4-day Workweek. Not sure if this is at all facilities or just some, but company committed to No Layoffs.

DHL LAYOFFS 9500, May be closing in U.S., to be run by UPS

SAIA MANDATORY TIME OFF 4-day Workweek Same as SEFL

 

Thanks for the correction on DHL/UPS, Rick G. I know O/O's are taking pretty big hits, too. I have high regard for them because, in my mind, they are small business owners and therefore are men who take action to survive and succeed when others get to enjoy the (small) luxury of knowing where their next meal is coming from.

I have to admit, though, I do not know much about TL, OTR, and O/O's. Most drivers I know are (or were) company men and all but one are LTL City guys. With respect to Kabar's comments, it seems like TL is in a better position to ride out the economy right now.

Maybe it is not as bad for LTL as I thought. What have you guys been seeing?

 

Oh Wise One...
Just curious--was the pay-cut that you now work 4 days a week, or are you saying they cut you to 4 days AND sliced your pay?

(Not that I would want the pay-cut, of course, but a 4-day workweek would be a welcome change for me...)