Large-scale job cuts by forwarders are expected to begin to bite, as previously “hidden” poor results can no longer be disguised.

According to sources in the forwarding industry, “the wheels have fallen off”.

One insider at a major forwarder told The Loadstar: “During the last two years every country has been “banking money” from their results each month, and reporting numbers back to head office to only meet budgets; anything above budget has been hidden in the country’s balance sheets.

Read More