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A slowdown in e-commerce is leading to layoffs in logistics. The Wall Street Journal reports that trucking, warehousing and parcel-delivery companies cut a combined 16,900 jobs in February, following a drop of 2,200 jobs in January, according to seasonally adjusted preliminary employment figures released March 10 by the U.S. Bureau of Labor Statistics.
The pullback came as the broader U.S. economy added 311,000 jobs, driven by growth in service sectors, as consumer spending shifts. Warehouse operators and parcel-delivery carriers are getting pinched by slowing e-commerce growth after online orders boomed during the COVID-19 pandemic.
Many retailers also slowed their ordering in recent months as they worked through stockpiles of excess inventories.
Trucking companies slashed 8,500 jobs in February amid the falloff in freight demand in the largest drop in employment in that sector since April 2020. Economists say a rebound is still some way off as companies wait for freight volumes to bounce back.
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