TOLEDO, OH (WTOL) - The parent company of BAX Global has announced a company realignment. As a result, BAX will be shut down at Toledo Express Airport and 700 jobs will be eliminated.
The parent company, DB Schenker, stated in a news release that it's changing the way the company will serve North American domestic transportation customers.
The phasing out of the U.S. dedicated air fleet, which represents less than 10 percent of DB Schenker business in the Americas, will take place over the next several weeks.
Employees at BAX were notified Friday morning.
"We deeply regret that there will be some layoffs as part of this realignment. However, we are working to redeploy as many employees as possible to other parts of our business," stated Heiner Murmann, CEO of Schenker, Inc. "Our employees represent the cornerstone of our company and we will treat all affected personnel in an open, transparent and respectful manner throughout this transition."
Murmann also stated in the news release that the action is in response to changing marketplace conditions.
"As a result of the prolonged recession and spiking fuel prices, more and more of our customers are opting for expedited ground-based solutions instead of domestic air freight, and they are looking for partners who can provide transportation management services rather than transactional transportation," he said.
