As cost-cutting continues, YRC Worldwide Inc. has eliminated about 2,000 jobs since the end of 2009, the head of the company said today.Bill Zollars, YRC's chairman and CEO, told analysts at a J.P. Morgan conference that YRC currently has about 34,000 employees companywide, down from about 36,000 in December.
By the end of 2010, YRC plans to take out an additional $300 million in annual costs, according to Zollars. About $200 million of those cuts will be finished by mid-year.
"A lot of that is headcount-related," he told analysts at Morgan's aviation, transportation and defense conference. "We're continuing to get big reductions in costs as we regain volume." Full Story......
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