TravelCenters of America is cutting back its work force and expects to scale back on expansion projects because of the struggling economy.
Friday, TA announced that it has reduced the workforce at its headquarters and other locations by approximately 190, or about 8 percent of its managerial personnel.
Similar reductions are expected to be made to its hourly workforce, mostly by attrition.
The staffing reductions reflect difficult conditions in the trucking industry, which represents TA's primary customers. In a statement, TA said it believes these industry conditions reflect a general slowing of the U.S. economy. TA also believes that its business which services long haul trucking may reflect a decline in imports into the country as a result of the weakening of the U.S. dollar's value, which raises the price of imports.
TA has also recently undertaken a complete review of its expansion and development activities. TA expects that many of these initiatives will be eliminated or scaled back until industry conditions improve.
Friday, TA announced that it has reduced the workforce at its headquarters and other locations by approximately 190, or about 8 percent of its managerial personnel.
Similar reductions are expected to be made to its hourly workforce, mostly by attrition.
The staffing reductions reflect difficult conditions in the trucking industry, which represents TA's primary customers. In a statement, TA said it believes these industry conditions reflect a general slowing of the U.S. economy. TA also believes that its business which services long haul trucking may reflect a decline in imports into the country as a result of the weakening of the U.S. dollar's value, which raises the price of imports.
TA has also recently undertaken a complete review of its expansion and development activities. TA expects that many of these initiatives will be eliminated or scaled back until industry conditions improve.
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