Expeditors International (EXPD) has provided an announcement.
Expeditors’ document outlines their commitment to avoiding mass layoffs, instead focusing on growing the business and maintaining a skilled workforce to handle future increases in freight volume. The company emphasizes that their unique compensation structure and investment in technology and staff training have enabled them to navigate challenges without significantly reducing headcount. Despite the COVID-19 pandemic prompting additional hires to manage increased demand, Expeditors believes these employees are now valuable assets. They continue to invest in technology to enhance services and productivity, viewing the movement of freight as a synergy of people, processes, and technology. Notably, while operational headcount has been managed down, the company anticipates reallocating some staff rather than continuing reductions at the same rate in 2024.
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