Editor’s note: Our flashback series is sent exclusively to newsletter subscribers each Friday before it is republished on our website. Want to receive this in your inbox? Sign up for the Daily Dive.
As freight rates cool from record highs, carrier executives are turning their attention to cost savings.
Cuts are coming across industry segments. LTL carriers have announced plans to reduce purchased transportation costs, and at least one of the segment's top players, Old Dominion, has tapped the brakes on its hiring spree.
In the TL market, U.S. Xpress went further, laying off up to 10% of its workforce. Here's a look at how fleets are reacting to a freight downturn.