Vos Logistics cuts 350 jobs as profits slide
Tue, 16 Dec 2008
Vos Logistics has announced plans to cut nearly 350 jobs across its business after seeing revenues fall by up to 30% through the fourth quarter.
It said it would make 145 redundancies in the Netherlands, 200 in France, Hungary and Poland, hold the renewal of temporary staff contracts and sell off part of its transport fleet.
In a statement, the Dutch logistics provider said there had been a “sharp decline” in volumes since October and it now had to take “sweeping measures” to bring costs down.
It said: “The recession’s impact on demand for transport is far stronger than originally foreseen. The volume of activity at Vos Logistics’ customers has fallen sharply.”
“As a result, Vos Logistics’ revenue has already dropped by more than 30% in some parts of the group in comparison with the second quarter.”
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