Robin Sheng 2023 will cut about 0.1 billion dollars in labor costs, do not rule out the future to continue to lay off the possibility.

According to foreign media reports, the world's seventh largest shipping freight forwarder, the United States's largest shipping freight forwarder C.H. Robinson Worldwide (referred to as Robin Sheng) recently again laid off 300 people, this is the company after November 2022 layoffs 650 people, 7 months of the second layoffs.

Robin Sheng Chief Communications Officer (chief communications officer)Duncan Burns said in an email that the layoffs mainly involve shared service positions and non-engineering and technical positions, and the number of layoffs is slightly less than Robin Sheng's global total staff of 2%.

Duncan Burns explained: "The decision to lay off employees is not easy, but it is necessary for the company's long-term development."

Robin Sheng's recent business situation is not optimistic.
in the first quarter of 2023, Robin's total revenue was $4.61 billion, down 32.3 percent year-over-year; adjusted gross profit (adjusted gross profits) was $0.686 billion, down 24.3 percent year-over-year.
, Robin's global freight forwarding business had a total revenue of $0.79 billion, down 64.0 percent from a year earlier, and adjusted gross profit of $0.178 billion, down 44.7 percent from a year earlier.
, by business category, the adjusted gross profit of the maritime business was 0.11 billion US dollars, a decrease of 50.3 per cent year-on-year, mainly due to a decrease in sea freight volume, while the adjusted gross profit of the air transport business was 31.317 million US dollars, a decrease of 49.0 per cent year-on-year, also due to a decrease in air freight volume.

Robin Sheng Acting Chief Executive (Interim Chief Executive Officer)Scott Anderson commented: "Our first-quarter results reflect the weakness in the freight market over the past 12 months." He further said that shippers continued to tighten inventory management at a time when economic growth was slowing, which meant that supply and demand in the freight market had shifted from a tight supply of capacity a year ago to an oversupply now.
Scott Anderson emphasized that Robin will continue to focus on its core business, including improving customer experience and making its business model more efficient. In addition, Robin Sheng will also take concrete measures to enable the company to achieve profitable growth despite the challenges.

to this end, Robin has made it clear that about $0.1 billion in labor costs will be cut in 2023, including layoffs, salary cuts and other measures that have been implemented, as well as further measures that may be taken in the future. Therefore, do not rule out the company's future layoffs may.

Source: China Shipping Weekly