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2016-01-29

XPO Logistics, Inc.: XPO Logistics Implements Planned Workforce Reduction in Less-Than-Truckload Business

Cuts approximately 190 non-sales positions, primarily in administration,
management and back office

Redesigns organization to enhance profitability and customer service

Expects actions to reduce costs by more than $20 million annually

GREENWICH, Conn. - January 29, 2016 -
XPO Logistics, Inc. (NYSE: XPO) today announced further progress with its
previously announced plan for synergies in its less-than-truckload (LTL)
business acquired from Con-way Inc. Approximately 160 non-sales positions
have been eliminated as the company continues to migrate to a more efficient
LTL organization. Most of the reductions were in administrative, management
and back office functions, and impacted less than 1% percent of the LTL
workforce in North America. Another 30 positions were eliminated in other
parts of the company, primarily to address redundancies created by the
acquisition.

Collectively, the actions are expected to reduce annual costs by more than $20
million against a targeted operating profit improvement of $170 million to
$210 million over two years. To date, approximately $50 million of expected
annualized savings have been achieved in the three months since the company
acquired Con-way on October 30, 2015.

Tony Brooks, president of LTL for XPO Logistics, said, "Our plan for LTL is
very much on track for our near-term and long-term goals. The integration of
Con-way has given us the opportunity to engineer a leaner, more
results-oriented LTL operation while improving on our industry-leading
customer service levels. We plan to double the number of strategic account
managers over the next few months. Our focus is on growing LTL by expanding
our service capabilities and cross-selling LTL to XPO's full customer base."

Brooks continued, "Our new organizational structure is based on clearly
delineated P&L responsibilities and customer service accountability at the
field level. We're also optimizing our footprint to increase the efficient
use of our capacity, improve transit times in key lanes and make our entire
network more productive."

XPO Logistics is the second largest LTL provider in North America and the
leading LTL provider in Western Europe. The company's LTL business in North
America services 99% of U.S. postal codes, and offers more next-day and
two-day lanes than any other carrier. XPO Logistics has global transportation
capacity of approximately 19,000 owned tractors and 46,000 owned trailers,
with another 10,000 trucks contracted through independent owner-operators,
and access to more than 50,000 independent carriers.

About XPO Logistics, Inc.

XPO Logistics, Inc. (NYSE: XPO) is a top ten global provider of cutting-edge
supply chain solutions to the most successful companies in the world. The
company provides services for less-than-truckload transportation, truckload
brokerage and transportation, last mile logistics, engineered supply chain
solutions, high-value-add warehousing and distribution, ground and air
expedite, intermodal, drayage, global forwarding and managed transportation.
XPO serves more than 50,000 customers with a highly integrated network of
over 84,000 employees and 1,469 locations in 32 countries. XPO's corporate
headquarters is in Greenwich, Conn., USA, and its European headquarters is in
Lyon, France. www.xpo.com

Forward-looking Statements

This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including the expected ability
to integrate operations, increase the number of LTL strategic account
managers, cross-sell services, make operational improvements, and realize
cost savings, synergies and profit improvement opportunities. All statements
other than statements of historical fact are, or may be deemed to be,
forward-looking statements. In some cases, forward-looking statements can be
identified by the use of forward-looking terms such as "anticipate,"
"estimate," "believe," "continue," "could," "intend," "may," "plan,"
"potential," "predict," "should," "will," "expect," "objective,"
"projection," "forecast," "goal," "guidance," "outlook," "effort," "target"
or the negative of these terms or other comparable terms. However, the
absence of these words does not mean that the statements are not
forward-looking. These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and our
perception of historical trends, current conditions and expected future
developments, as well as other factors we believe are appropriate in the
circumstances.

These forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions that may cause actual results, levels of
activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or
implied by such forward-looking statements. Factors that might cause or
contribute to a material difference include those discussed in XPO's filings
with the Securities and Exchange Commission and the following: economic
conditions generally; competition and pricing pressure; XPO's ability to find
suitable acquisition candidates and execute its acquisition strategy; the
expected impact of the Con-way acquisition and the related financing,
including the expected impact on XPO's results of operations; the ability to
successfully integrate and realize anticipated synergies, cost savings and
profit improvement opportunities with respect to Con-way and other acquired
companies; XPO's ability to raise debt and equity capital; XPO's ability to
attract and retain key employees to execute its growth strategy, including
retention of Con-way's key employees; litigation, including litigation
related to alleged misclassification of independent contractors; the ability
to develop and implement suitable information technology systems; the ability
to maintain positive relationships with XPO's and Con-way's networks of
third-party transportation providers; XPO's ability to attract and retain
qualified drivers; the ability to retain XPO's, Con-way's and other acquired
companies' largest customers; fuel price or fuel surcharge changes; rail and
other network changes; labor matters; weather and other service disruptions;
and governmental regulation. All forward-looking statements set forth in this
press release are qualified by these cautionary statements and there can be
no assurance that the actual results or developments anticipated will be
realized or, even if substantially realized, that they will have the expected
consequences to, or effects on, XPO or its businesses or operations.
Forward-looking statements set forth in this press release speak only as of
the date hereof, and XPO undertakes no obligation to update forward-looking
statements to reflect subsequent events or circumstances, changes in
expectations or the occurrence of unanticipated events except to the extent
required by law.

Contacts:

XPO Logistics, Inc.

Tavio Headley, +1-203-930-1602
tavio.headley@xpo.com

Gary Frantz, +1-415-819-6013
gary.frantz@xpo.com

Brunswick Group

Darren McDermott, +1-212-333-3810

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: XPO Logistics, Inc. via Globenewswire

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Författare WKR

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