Motive, formerly KeepTruckin, has laid off 237 employees, or roughly 6% of its workforce, due to operating cost constraints and demand issues confronting the San Francisco-based freight solutions provider. Motive CEO Shoaib Makani stated that the company experienced rapid growth over the last two years, increasing from 1,450 to 3,700...
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ArcBest’s CFO is retiring, and the company is looking for a replacement.
ArcBest announced on Monday that CFO David Cobb will retire in October 2023. The company is seeking his replacement. Cobb's 17-year tenure at ArcBest (NASDAQ: ARCB) saw the company's revenue double to the north of $5 billion. Over that time, the company has developed a transportation and logistics offering that...
Orders for Class 8 trucks have nowhere to go but down.
In November, Class 8 truck orders totaled 33,000 units. However, they fell for the second month in a row following record bookings in September. Supply chain issues, growing backlogs, and a slowing economy are all likely to prevent large monthly orders from being placed in the near future. Orderbooks are...