Saturday, March 08, 2008

TravelCenters of America Announces Workforce Reductions

WESTLAKE, Ohio-- TravelCenters of America LLC today announced that it has reduced the workforce at its headquarters and other locations by approximately 190, or about eight percent (8%) of its managerial personnel. Similar reductions are expected to be made to its hourly workforce, mostly by attrition.

The staffing reductions reflect difficult conditions in the trucking industry, which represents TA’s primary customers. TA believes these industry conditions reflect a general slowing of the U.S. economy. TA also believes that its business which services long haul trucking may reflect a decline in imports into the Country as a result of the weakening of the U.S. dollar’s value, which raises the price of imports.

TA has also recently undertaken a complete review of its expansion and development activities. TA expects that many of these initiatives will be eliminated or scaled back until industry conditions improve.

TravelCenters of America LLC operates or franchises full service travel centers across the United States under the trade names “TravelCenters of America”, “TA” and “Petro Stopping Centers”.
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