Werner suspends 401(k) match for employees to cut costs

Truckload Carrier Werner Enterrises, which came out of the first quarter and published an operational loss, suspended the 401 (K) match for employees.

A spokeswoman Werner (NASDAQ: WerN) confirmed the authenticity of a screen shot online, which announced the suspension of the identical program. She added that the comment is “temporary”.

The company said in a statement issued to the shipping waves in response to the comment request: “As part of the cost -delivering initiative that was connected to 40 million dollars for 2025, Werner takes deliberate steps to simplify the operations and put the company for long -term growth.” “This includes difficult but necessary organizational changes. We are still committed to supporting our employees through this transition and maintaining the operational strength of our customers.”

Providing a cost of $ 40 million was announced with the issuance of the profits of the first quarter, an increase of $ 25 million, which was unveiled in late February in conjunction with the profits of the fourth quarter 2024.

Werner has decreased by 26.9 % in the past 52 weeks.

The screenshot is not a full version of the memorandum of the CEO of David Marther, which was circulated to the employees last week.

“After a careful study, Werner made a difficult decision to suspend the contribution of temporary estimated conformity for 2025,” said a statement from Marahler. He added that the change is effective immediately.

The notification also said that the company expects to restore a matching boost “in the future”. The screenshot after the note says that Werner expects to re -benefit “when there is a major improvement”, most likely in the company’s financial affairs.

Werner published what is believed to be the first quarterly operational loss in the first quarter, although there were reports published earlier in operating losses several years ago.

His net income was also negative. Werner lost 12 cents per share, when the unanimity estimate was that it would achieve 24 cents per share, according to seeingalpha. Seekingalpha said that the total quarter revenues of $ 712.1 million decreased to the unanimity estimate of about 27 million dollars.

The operational loss amounted to $ 5.8 million, compared to my operational income 15.6 million dollars.

Werner’s guidelines are somewhat unconventional in that the company does not expect profits.

But there were some parts of their recent expectations, which were released with profits, and whose point of view reflects that the current weak market was not about to circumvent.