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Trucking recession: biggest freight brokerage layoffs in 2020 – Business Insider – Business Insider

  • In 2020, six major brokerages have had to lay off or furlough employees.
  • Some cited the coronavirus, which has pushed trucking rates to its lowest numbers since 2009.
  • Others began layoffs before the virus started to slam the US and the domestic trucking market.
  • Visit Business Insider’s homepage for more stories.

In January, a leading freight analyst at Bank of America forecasted that 2020 would usher in the “broker wars.”

Big names like C.H. Robinson would duel with techy upstarts like Uber Freight to see who would be able to control the freight-brokerage market — the sometimes costly, cumbersome process in which truck drivers are matched with retailers and manufacturers to move their goods. 

That forecast ended up prescient for reasons that no one predicted. The coronavirus pandemic has dropped freight volumes to their lowest numbers since 2009, and has pushed down how much revenue these brokers can depend on.

Several brokerages have been forced to lay off workers before the coronavirus, while others have had to cut jobs because of the virus’ impact on freight.

Here’s a list of the biggest layoffs so far, in alphabetical order.

Contact rpremack@businessinsider.com if you have more information about layoffs in the trucking industry.