October 7th, 2008 → 12:09 am @ MReed // One Comment
Today’s struggling economy continues to trickle down adverse affects to various industries. Saia Inc., a trucking company, recently cut 5% of its work force, directly placing blame on a lower seasonal volume and a shaky economic environment. Saia announced in a Securities Exchange Commission filing last week that cuts were made in the corporate office and across field operations. According to the company’s website, Saia has an estimated 8,200 employees.
Art Hatfield, Morgan Keegan analyst, said that cuts will give the company confidence in their demand expectations. Furthermore, he anticipates Saia’s tonnage to drop around 5% in the third quarter. While Hatfield maintains his “Outperform” rating, he has lowered the company’s estimated earnings.
In business for more than 80 years, Saia is one of the most established LTL carries in the U.S., ranking consistently among the top 10 carriers. The company fills its trucks with freight from a number of sources and often re-sorts and redistributes it along delivery routes.
Basketball Games
1 year ago
I am surprised to know the number of its employees.Its such a huge company.And I agree that its really an established company.