XPO Logistics

Last updated

XPO Logistics, Inc.
Type Public
Headquarters Greenwich, Connecticut, U.S.
Number of locations
744 (2021)
Key people
Chair: Brad Jacobs
CEO: Mario Harik
RevenueDecrease2.svg US$12.81 billion (2021)
Increase2.svg US$616 million (2021)
Decrease2.svg US$341 million (2021)
Total assets Increase2.svg US$8.71 billion (2021)
Footnotes /references
[1] [2] [3] [4] [5] [6]

XPO is an American transportation company that conducts less-than-truckload shipping. [7] The company's headquarters are located in Greenwich, Connecticut, U.S. [8] [9] [10]

Contents

XPO Logistics truck MTA Hoffman Drive 80 - LIE.jpg
XPO Logistics truck

History

The company was initially called Express-1 Expedited Solutions before being renamed to XPO Logistics in September 2011. In June 2012, XPO listed its shares on the New York Stock Exchange. [11]

In April 2015, XPO purchased European transport company Norbert Dentressangle at a cost of US$3.56 billion, including acquired debt. [12]

In June 2016, XPO was included in the Fortune 500 list of the largest U.S. corporations based on revenue. [13] [14]

In 2019, XPO was the first global logistics company to join the Massachusetts Institute of Technology (MIT) Industrial Liaison Program, a partnership organization that pairs MIT resources with corporations worldwide to solve global business challenges. [15] [16] [17] [ third-party source needed ]

The company spun off its logistics segment to a separate company named GXO Logistics in August 2021. [18] This was followed by XPO Logistics spinning off its brokerage and other services segment to a separate company named RXO Inc. in November 2022. [19] [20] [21] [22] [23] [24]

As of March 2022, XPO produces new and remanufactured trailers at a factory in Searcy, Arkansas. [25] [26]

The company has conducted logistics operations for the Evian Golf Championship and the Paris Marathon. [27] In 2019, XPO Logistics released a mobile game simulating freight operations for the Tour de France. [28]

Conditions for female employees

A 2018 article by The New York Times profiled experiences of several female employees working at a Memphis warehouse operated by XPO. The warehouse is described as windowless and, lacking air-conditioning, sometimes temperatures surpass 100 °F (38 °C). According to a police report and XPO employees, a worker died of cardiac arrest on the warehouse floor in 2017 and other workers were told to continue working. There have been several cases of miscarriage in pregnant works at the warehouse, which the article attributes to management's refusal to allow pregnant workers to avoid the most strenuous jobs. XPO spokesperson Erin Kurtz stated that the claims were unsubstantiated and filled with inaccuracies. [29]

See also

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References

  1. "XPO Logistics announces fourth quarter and full-year 2019 results". XPO Logistics. Retrieved February 1, 2020.
  2. "US SEC: Form 10-K XPO Logistics, Inc". United States Securities and Exchange Commission.
  3. "XPO Logistics Ranked Fourth Largest Freight Brokerage Firm and Top 50 Logistics Company". Reuters. November 13, 2013.
  4. "Profile:XPO Logistics, Inc". Reuters. Archived from the original on October 10, 2010.
  5. "Facts and Figures" (PDF). XPO Logistics. October 31, 2018. Retrieved November 1, 2018.
  6. "XPO Logistics hires new CFO as it weighs asset sale". The Wall Street Journal. February 10, 2020.
  7. "XPO Completes Spin-Off of RXO". news.xpo.com. Retrieved November 7, 2022.
  8. "XPO Logistics finalizes Con-way acquisition". American Shipper. Retrieved February 14, 2016.
  9. Ossenbeck, Brian P. (March 10, 2017). XPO Logistics. J.P. Morgan Aviation, Transportation and Industrials Conference. J.P. Morgan.
  10. "XPO Logistics Announces Public Filing of Form 10 Registration Statement for Planned Spin-Off of GXO Logistics". xpo.com. June 9, 2021. Retrieved August 2, 2021.
  11. "XPO Logistics, Inc, Form 8-K, Current Report, Filing Date Jun 8, 2012". secdatabase.com. Retrieved May 6, 2018.
  12. "US logistics group XPO buying France's Dentressangle". Business Insider. April 28, 2014.
  13. "Here are the 15 New Companies Joining the Fortune 500". Fortune . June 6, 2016. Retrieved June 7, 2016.
  14. "XPO Logistics named 'fastest-growing company' in Fortune 500". July 12, 2016. Retrieved August 31, 2016.
  15. "XPO Logistics joins MIT's Industrial Liaison Program – DC Velocity". DCVelocity.com. Retrieved December 2, 2019.
  16. "XPO enters into partnership with MIT's Industrial Liaison Program and adds new board member". Logisticsmgmt.com. Retrieved December 2, 2019.
  17. "The Morning Download: New Iron Mountain CIO Comes With G Suite". Createsend.com. Retrieved December 2, 2019.
  18. Maiden, Todd (December 23, 2021). "2021's most transformational deals in trucking". FreightWaves. Retrieved August 3, 2022.{{cite web}}: CS1 maint: url-status (link)
  19. O'Neal, Lydia (March 8, 2022). "XPO Logistics to Spin Off Freight Brokerage, Exit Intermodal and Europe Business". Wall Street Journal. Retrieved August 3, 2022.{{cite web}}: CS1 maint: url-status (link)
  20. O'Neal, Lydia (May 9, 2022). "XPO Logistics Names CEO for New Freight Spinoff". Wall Street Journal. Retrieved August 3, 2022.{{cite web}}: CS1 maint: url-status (link)
  21. Northington, Laurie (June 9, 2022). "XPO Taps Yoav Amiel as Chief Information Officer for Spin-Off". Home Furnishings Business. Retrieved August 3, 2022.{{cite web}}: CS1 maint: url-status (link)
  22. Berman, Jeff (July 12, 2022). "XPO Logistics rolls out RXO as the name for its planned Q4 spin-off". Logistics Management. Retrieved August 3, 2022.{{cite web}}: CS1 maint: url-status (link)
  23. "XPO Names New Tech Brokerage Company RXO". Transport Topics. July 12, 2022. Retrieved July 13, 2022.
  24. "XPO Completes Spin-Off of RXO". news.xpo.com. Retrieved November 7, 2022.
  25. Gilroy, Roger (March 25, 2022). "XPO Ramps Up Trailer Production in Arkansas". Transport Topics. Retrieved August 3, 2022.{{cite web}}: CS1 maint: url-status (link)
  26. Stocking, Richard (April 8, 2022). "Trucking is changing. Are you adapting?". Commercial Carrier Journal. Retrieved August 3, 2022.{{cite web}}: CS1 maint: url-status (link)
  27. "Golf: XPO Logistics nominato partner ufficiale per i trasporti della Evian Championship". SPORTFAIR (in Italian). September 15, 2017. Retrieved October 22, 2017.
  28. "XPO Moves The Tour: The Game". App Store. Retrieved July 22, 2019.
  29. Silver-Greenberg, Jessica; Kitroeff, Natalie (October 21, 2018). "Miscarrying at Work: The Physical Toll of Pregnancy Discrimination". The New York Times. ISSN   0362-4331 . Retrieved December 6, 2021.