Jack Cooper exits bankruptcy, retains over 2,500 employees
In November 2019, after filing for Chapter 11 bankruptcy in July, Jack Cooper announced that it had exited the proceedings. The company was able to complete a court-supervised restricting process, retaining over 2,500 employees in the process. Jack Cooper states it will move forward as a "significantly deleveraged company with new capital that will allow for reinvestment in the business, with the goal of replacing 80% of its fleet with new equipment over the next five years."
Labor|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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