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ArcBest Corporation announced a restructuring plan to realign its operating structure and reduce costs, including a 2%…
ARCBArcbest Corp
ArcBest Corporation announced a restructuring plan to realign its operating structure and reduce costs, including a 2% workforce reduction and brand consolidation under the ArcBest brand. The plan involves closing ten ABF Freight service centers and discontinuing the Vaux Freight Movement System, with estimated cash charges of $6.0 million to $7.0 million and non-cash impairments of approximately $76.5 million. The company expects to achieve approximately $40 million in annualized run-rate cash savings. ArcBest Corporation is an integrated logistics company providing transportation and supply chain solutions.