Troubled trucking concern YRC Worldwide Inc was slashing more jobs this week, just before the end of the its third quarter, as it continues to work with lenders and labor to stave off collapse.
Sources inside the No. 1 U.S. less-than-truckload company said the cuts were substantial and layoffs were being made across many departments.
Company officials would not disclose how many jobs were being eliminated but said "workforce adjustments" were underway.
"YRC Worldwide is making workforce adjustments across the company in response to economic conditions affecting business volumes and to advance the company's movement to a functional organizational structure.
"The company is not providing updated employment numbers at this time, since workforce actions are still in process," YRC officials said in a statement.