Roadrunner Transportation Systems Inc. said late Monday it plans to cut about 10% of its workforce in a downsizing of its van business. "The downsizing includes reducing dry van company tractor and trailer fleets by over 50%, closing five terminal locations and eliminating approximately 450 positions," Roadrunner said in a statement. The reductions will take place over the next 60 to 90 days and cost $12 million to $16 million, the company said. Roadrunner shares were flat after hours, following a 3% gain to close the regular session at $10.36.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
