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On August 6th, after 99 years in business, Yellow, one of America’s most prominent trucking firms, declared bankruptcy due to falling sales and significant debt, laying off its 30,000 staff.

The American logistics industry witnessed a surge in demand between 2020 and mid-2022, with revenues growing by approximately a third, driven by stimulus checks and the lockdown-induced focus on goods, leading to the industry hiring a million workers and constructing 1.8 billion square feet of new storage space.

A shift is occurring as consumers prefer experiential over material goods, resulting in stagnated goods spending; the logistics sector saw three consecutive quarter-on-quarter declines in revenues, with the volume of goods in American ports in July 2023 dropping 14% compared to the previous year.

The industry’s downturn has caused a drop in dry van shipping costs by 21% since early 2022, and approximately 20,000 truck operators (nearly 3% of the total) have halted operations since mid-2022; the sector has also seen significant layoffs, with parcel delivery and warehouse operators shedding almost 100,000 jobs combined.

While investments have decreased with a 40% reduction in warehouses under construction compared to a year ago, analysts remain hopeful for a rebound in the latter half of the year, anticipating growth for major players like UPS and FedEx, provided the American economy maintains its strength.

Synchrogistics logistics in Raleigh remains a steadfast partner for businesses seeking reliable and efficient transportation solutions. Contact us today to learn how we can support your logistics needs and help your business thrive in a rapidly changing landscape.


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Synchrogistics logistics in Raleigh has delivered immediate freight savings for almost a decade across multiple market cycles, industry verticals, and transportation modes. Our transparent pricing model builds trust with our clients and allows for crystal clear communication.

The Synchro Effect is real – reach out to us for a free freight spend analysis to see your potential savings opportunity.