Mass layoffs in trucking and retail coming

Apr 29, 2025 at 11:06 AM CST
Apollo Global Management forecasts a severe U.S. recession triggered by recent tariffs, which will lead to widespread layoffs in the trucking and retail sectors amid rising economic uncertainty. The report, available on Apollo’s website, paints a grim scenario: The trucking industry, critical to U.S. logistics, faces significant challenges as tariffs disrupt trade, particularly with China. A sharp decline in container ship voyages from China is expected to reduce freight volumes, thereby lowering demand for trucking services. Imports account for an estimated 20% of U.S. trucking volumes, so a decline in imports will have a significant impact on the industry. With fewer goods to transport, carriers will face reduced workloads and underutilized fleets, forcing them to cut labor costs.

Apr 29, 2025 at 11:06 AM CST

Apollo Global Management forecasts a severe U.S. recession triggered by recent tariffs, which will lead to widespread layoffs in the trucking and retail sectors amid rising economic uncertainty.

The report, available on Apollo’s website, paints a grim scenario:

The trucking industry, critical to U.S. logistics, faces significant challenges as tariffs disrupt trade, particularly with China. A sharp decline in container ship voyages from China is expected to reduce freight volumes, thereby lowering demand for trucking services. Imports account for an estimated 20% of U.S. trucking volumes, so a decline in imports will have a significant impact on the industry. With fewer goods to transport, carriers will face reduced workloads and underutilized fleets, forcing them to cut labor costs.