Wincanton has been forced to make redundancies to offset falling profit in its Industrial and Transport division. In a trading update today (3 October), Wincanton said while it expects profit for the current financial year to meet expectations, it has set aside an exceptional charge of £7m to fund cost-saving initiatives, “primarily for the cost of redundancies in [its] Industry and Transport business”. The operator said it will spread the £7m charge over its financial year as the costs materialise. […]
More than 400 Argos employees are to strike next week, in protest at the proposed transfer of 96 drivers to Eddie Stobart Logistics.
Wincanton has told investors that it continues to trade in line with expectations, with solid levels of activity in its contract logistics business, as it financial year concluded.