TravelCenters of America announced today, March 7, that it has reduced the work force at its headquarters and other locations by about 190, or about 8 percent of its managerial personnel. Similar reductions are expected to be made to its hourly work force, mostly by attrition.
The company says the staffing reductions reflect difficult conditions in the trucking industry, which represents TA’s primary customers. TA 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 also has 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.
TravelCenters of America LLC, based in Westlake, Ohio, operates or franchises full-service travel centers across the United States under the trade names TravelCenters of America, TA and Petro Stopping Centers.