FFE Trims Fleet, Jobs to Reverse Recent Losses
Frozen Food Express Industries is restructuring its operations, eliminating about 150 non-driver employee positions and reducing the size of its trailer fleet by more than 20%.
“We don’t like losing money,” said Stoney M. “Mit” Stubbs Jr., president of FFE. “Our goal is to slim down our overhead and return to profitability.”
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The changes are aimed at helping the Dallas-based refrigerated carrier overcome a series of problems that led to the company’s first-ever quarterly loss in the third quarter of 1999 ("Frozen Food Express Cancels Dividend," 11-15, p. 2).
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FFE expanded its trailer fleet earlier last year in anticipation of increasing its tractor fleet, but that did not occur because of higher-than-expected turnover among owner-operators and billing problems stemming from the change to a new computer system.
