SAN FRANCISCO (Thomson Financial) - Quality Distribution Inc. said late
Monday it has cut 60 positions, with most of the reductions coming at its Tampa,
Fla., headquarters, where around 17% of the positions were eliminated.
The company expects a reduction in payroll related cost of more than $5
million a year.
The truck transportation services company will take a pre-tax charge for
severance related costs of around $1.5 million in the second quarter.
Quality Distribution also said first-quarter revenue excluding fuel
surcharges was roughly $177 million, up 11% increase from last year. Excluding
the impact of the acquisition of Boasso, revenue for the quarter was flat
compared with last year.
The company's shares closed at $3.04.
Gabriel Madway
gm
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