COVID-19 has hit the trucking industry hard and there’s no doubt about it, especially when you look at those freight rates.
There’s also no doubt about the freight brokerage industry having some problems too and being in the hot seat with all the national protests from the driver community calling on others to just say no to cheap freight.
But it’s been no picnic for these freight brokers either, as Business Insider has recently published a list of top brokerages who have either had to furlough or let go of staff in light of the current COVID-19 crisis and lower rates.
According to BI, they are, Coyote Logistics letting go of 27 employees, Flexport, 50 employees. Next Trucking, 70 employees. Arrive Logistics, 110 employees.
And as far as TQL, the brokerage really in the crosshairs of some recent videos posted by a trucking group, their numbers are unknown but freight waves recently reported it was in the hundreds.