CJ Korea Express

CJ Logistics reported a 12 percent drop in second-quarter operating income to 101.566 billion Korean won, even as sales climbed 11 percent to 3.380 trillion won. Net income attributable to shareholders of the parent company declined 34.1 percent to 34.628 billion won from 52.546 billion won a year earlier. Sequentially, operating income grew 10.3 percent and sales rose 5.1 percent. Shares were trading 1.40 percent lower at 77,600.00 won in South Korea.

Companies across the freight economy disclosed plans to eliminate at least 1,222 jobs from July 10 through July 24, with Amazon, Temco Logistics, and Freight Handlers Inc. accounting for most of the layoffs. Amazon plans to temporarily close its 1 million-square-foot fulfillment center in Port St. Lucie, Florida, and lay off 494 employees while the property undergoes a $200 million renovation, with the facility scheduled to close September 17 and reopen in late 2028. Temco Logistics disclosed 223 layoffs across three states as it discontinues flatbed delivery operations nationwide, while Freight Handlers Inc. filed a notice covering 168 employees at five Publix Super Markets distribution centers in Florida after losing its third-party unloading contract. Additional permanent closures or workforce reductions were announced at facilities operated by GEODIS, CJ Logistics America, GXO Logistics, Niagara Bottling, and International Paper. The period also saw 10 transportation, distribution, and freight-dependent businesses seek Chapter 11 bankruptcy protection, including Eagle Logistics LLC, a New Jersey-based carrier with 151 power units and 242 drivers.