Tango Transport bought out as 80 layoffs announced
SHREVEPORT, LA (KSLA) - Shreveport-based Tango Transport has confirmed the layoff of 80 workers began Wednesday, the same day the freight-hauling company was acquired by Celadon Group, a truckload carrier based in Indianapolis, Indiana.
Tango issued a Worker Adjustment and Retraining Notification (WARN) of the layoffs via the Louisiana Workforce Commission late Friday afternoon.
On Wednesday, Celadon Group released a statement announcing that one of its wholly owned subsidiaries has purchased select assets of the truckload business.
Celadon Chairman and Chief Executive Officer Paul Will stated, "We are delighted with the Tango acquisition and expect it to fulfill one of our immediate goals of continuing to grow our business with our existing customer base by adding density in our primary traffic lanes and gaining experienced drivers."
According to the seller's unaudited financial statements, the Shreveport, La.-based company generated approximately $90 million in gross revenue in 2014.
The freight-hauling company also has operations in Sibley, La., as well as in West Memphis, Ark., and Madisonville, Ky.
According to Tango's WARN notice, the layoffs were to begin Sept. 30 and are expected to be completed by Oct. 14.
Companies are required to file WARN notices under the federal Worker Adjustment and Retraining Notification Act if there is a full plant closure resulting in 50 of more employees losing their jobs in any 30-day period or if there is a mass layoff during any 30-day period.
A layoff is considered a mass layoff if it is more than 500 employees or if it is between 50 and 499 employees and comprises 33 percent or more of the active work force at that particular site.
It's unclear whether the layoffs at the Shreveport location constitute a complete shutdown of the facility, or whether Celadon plans to keep those operations running in some capacity.
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