FORT SMITH, Ark. — ArcBest, one of the largest employers in the Fort Smith metro, is cutting pay, implementing a hiring freeze and taking other “cash preservation” measures as the COVID-19 pandemic has resulted in declining revenue.
Editor's note: The video attached is from an update Fort Smith city leaders gave about the response to coronavirus.
Judy McReynolds, president and CEO of the Fort Smith-based transportation and logistics company, summarized the company’s struggles and outlined its actions in a letter sent to employees.
“Many businesses, including our customers, have reduced operations or shut their doors from either lack of business or orders to do so from federal, state or local governments. Stimulus aid hasn’t reached its intended recipients, and the length and depth of the coronavirus impact are unknown,” McReynolds noted in the undated letter obtained by Talk Business & Politics.
ArcBest employs around 1,630 in the Fort Smith area, with 880 of those hourly and 750 salaried, according to the company.
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