YRC Worldwide Inc lost more money than was expected. An article found here on Yahoo Finance gives a break down of their second quarter earnings.
Not all trucking companies are singing the same tune as YRC. Recent Earnings updates from a couple of large trucking carriers seem to be better than those above. For example, Con-way Inc. (CNW) recently posted their Second-quarter earnings and saw their stock price jump as much as 15%.
Across the market though, all types of transporters have been reporting significant volume declines. YRC has also suffered from volume declines.
The U.S. economic output has continued to shrink in the second quarter and this has created a tough market for companies like YRC . Many companies have had to cut a host of costs in addition to cutting jobs. It should also be noted that numbers show June Tonnage down as well.
Well, not all companies are cutting jobs. CR England is certainly looking to hire drivers looking for truck driving jobs. Also, Truck Driving School Students can also apply for positions with the company. They are also looking to hire experienced drivers as well. CR England seems to be bucking the job cutting trend. In fact they have never laid off a single driver in their 89 year history.