Air Cargo Quarterly
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YRC Worldwide Inc. Units To Close 27 Service Centers-DJ
Press reports have indicated that YRC Worldwide Inc. announced that two of its subsidiaries will close a combined 27 service centers and take $10 million in charges related to the move. The Company’s USF Holland unit will close six service centers located in Albany, Ga., Jackson, Miss., Lumberton, N.C., Little Rock, Ark., Mobile, Ala., and Metter, Ga. The company’s USF Reddaway division will close 21 service centers located in Louisiana, New Mexico, Oklahoma and Texas. Both divisions are units of USF Corp. The Company expects to take a $5 million charge for lease terminations and another $5 million charge for employee severance. The majority of these charges are expected be taken in the first quarter of 2008. The Holland closings will affect 300 workers and the Reddaway closings will affect an additional 800. (Reuters)
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