XPO, Inc.: Difference between revisions

XPO, Inc.
Formerly	XPO Logistics, Inc.; (2011–2022)
Company type	Public
Traded as	NYSE: XPO; S&P 400 component;
Gegründet	2000; 24 years ago
Gründer	Brad Jacobs
Hauptsitz	Greenwich, Connecticut, US
Number of locations	564 (2022)
Key people	Brad Jacobs (Chairman); Mario Harik (CEO); Dave Bates (COO);
Revenue	US$7.74 billion (2023)
Operating income	US$438 million (2023)
Net income	US$189 million (2023)
Total assets	US$7.5 billion (2023)
Total equity	US$1.27 billion (2023)
Number of employees	38,000 (December 2023)
Website	www.xpo.com
	Footnotes / references;

Browse history interactively

← Previous edit

Content deleted Content added

VisualWikitext

Inline

Latest revision as of 01:00, 10 July 2024

XPO, Inc. is an American transportation company that conducts less-than-truckload shipping in North America.^[8]^[9]^[10] The company has headquarters in Greenwich, Connecticut, US and 564 locations globally.^[1]

History

2011–2021

The company was initially called Express-1 Expedited Solutions and listed on American Stock Exchange under the ticker symbol XPO. It was acquired by Brad Jacobs and renamed to XPO Logistics in September 2011.^[9]^[11]^[12] In June 2012, XPO listed its shares on the New York Stock Exchange.^[13]

XPO has acquired a number of logistics businesses in North America and overseas.^[14] Some notable acquisitions include: 3PD, Inc. (August 2013), Pacer International, Inc. (March 2014), Norbert Dentressangle SA (April 2015) and Con-way Inc. (October 2015). XPO paid US$3.56 billion, which included acquired debt, for European transport company Norbert Dentressangle and $3 billion for Con-way.^[15]^[16]

XPO sold its truckload division (acquired from Con-Way) to TransForce for $558 million in cash.^[17]

In June 2016, XPO was included in the Fortune 500 list of the largest US corporations based on revenue.^[18]

The company has conducted logistics operations for the Evian Golf Championship and the Paris Marathon.^[19] In 2019, XPO Logistics released a mobile game simulating freight operations for the Tour de France.^[20]

Beginning in 2021, XPO Logistics broke into three separate publicly-traded companies, making XPO solely an LTL (less-than-truckload) provider.^[21]^[22]

GXO Logistics

In August 2021, the company spun off its contract logistics business into a separate company named GXO Logistics, with facilities located primarily throughout North America and Europe.^[23]^[21] GXO stands for "game-changing opportunities".^[24] Malcolm Wilson is the CEO of the company.^[25]

RXO

This was followed by XPO spinning off its brokerage and other services—managed transportation, global forwarding and last-mile logistics—business to a separate company named RXO, Inc. in November 2022.^[26]^[27]^[28]^[29] RXO is headquartered in Charlotte, North Carolina.^[30] Drew Wilkerson is CEO of the company.^[31]

2022–present

XPO dropped "Logistics" from its name in December 2022 and remains solely an LTL carrier, which allows multiple customers to transport goods in the same truck.^[26] In August 2022, Brad Jacobs announced he was stepping down as CEO and would serve as executive chairman. Mario Harik, XPO's former chief information officer, who also serves as the company's president, was appointed as CEO.^[23] In March 2022, XPO sold its North American intermodal business to Illinois-based STG Logistics for $710 million.^[32]^[21] In March 2023, XPO appointed J. Wes Frye, a retired industry veteran, to its board of directors.^[33] In April 2023, XPO announced the hire of Dave Bates as chief operating officer of North American LTL.^[34] In December 2023, XPO received approval from a Delaware bankruptcy court to acquire 28 service centers of Yellow Corporation for $870 million as a part of Chapter 11 bankruptcy.^[35]^[36] The acquisition was finalized in January 2024.^[37]

Operations

North American LTL

XPO is the second largest provider of less-than-truckload services in North America.^[38] Since November 2022, the company's North American operations have been solely focused on LTL freight transportation.^[39] LTL is a freight model which involves shipping smaller quantities of goods for multiple customers at a time.^[40] In 2022, XPO's CEO stated that the company operates in 99% of US zip codes.^[41] As of March 2022^[update], XPO produces new and re-manufactured trailers at a factory in Searcy, Arkansas.^[41]^[42]

European Transportation Segment

XPO provides dedicated truckload, LTL, truck brokerage, managed transportation, last mile and freight forwarding in Europe.^[43] The company also manages multimodal solutions, such as road-rail and road-short sea combinations.^[44] 1,000 new drivers were hired in the U.K. and Ireland in 2022.^[45]^[46]

Controversy

A 2018 article by The New York Times profiled the experiences of several employees working at a Memphis warehouse operated by XPO.^[47]^[48]^[49] The warehouse had no windows or air conditioning, and sometimes temperatures there surpassed 100 °F (38 °C). The article described several cases of warehouse workers miscarrying, which were attributed to management's refusal to allow pregnant workers to avoid strenuous jobs.^[50] According to the article and XPO employees, a worker died of cardiac arrest on the warehouse floor in 2017; employees said they were told by managers to continue working. A spokesperson for XPO called the allegations in the article "unsubstantiated, filled with inaccuracies", and claimed they were "fueled by the Teamsters".^[47]

In October 2021, XPO agreed to pay $30 million to 784 drivers who said the company paid them less than minimum wage.^[51]^[52]

References

^ ^a ^b ^c Schott, Paul (October 31, 2022). "Greenwich-based XPO Logistics to spin off truck-brokerage business on Tuesday". CT Insider. Retrieved March 14, 2023. After the spin-off, XPO will serve about 43,000 shippers, with 564 locations and 38,000 employees worldwide.
^ "Form 10-k files 02/08/2024".
^ "XPO, Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 13, 2023.
^ "XPO Logistics Ranked Fourth Largest Freight Brokerage Firm and Top 50 Logistics Company". Reuters. November 13, 2013.
^ "Profile:XPO Logistics, Inc". Reuters. Archived from the original on October 10, 2010.
^ "Facts and Figures" (PDF). XPO Logistics. October 31, 2018. Retrieved November 1, 2018.
^ "XPO Logistics hires new CFO as it weighs asset sale". The Wall Street Journal. February 10, 2020.
^ "XPO Logistics: Fast growth through acquisitions and management style". Westfair Communications. November 17, 2017. Retrieved March 15, 2023.
^ ^a ^b "Jacobs puts $150 million into Express-1, aims big". Reuters. June 14, 2011. Retrieved March 15, 2023.
^ Robinson, Chuck (August 9, 2022). "XPO Logistics revenue's up as company manages changes". Land Line. Retrieved February 2, 2023.
^ "XPO's Billionaire Chairman Is Hunting for His Next Big Deal". Time. November 27, 2022. Retrieved March 14, 2023.
^ "Better Than Amazon? How Bradley Jacobs Turned A $63M Bet Into A $12 Billion Transportation Empire". Forbes. Retrieved March 14, 2023.
^ "XPO Logistics heads to NYSE". FreightWaves. June 11, 2012.
^ "XPO Logistics eyes up to $8bn in deals". Financial Times. May 3, 2018.
^ "US logistics group XPO buying France's Dentressangle". Business Insider. April 28, 2014.
^ "XPO Logistics to Acquire Trucker Con-way in $3 Billion Deal". The Wall Street Journal. September 9, 2015.
^ "XPO Logistics Sells Truckload Shipping Business to TransForce for $558 Million". The Wall Street Journal. October 27, 2016.
^ "Here are the 15 New Companies Joining the Fortune 500". Fortune. June 6, 2016. Retrieved June 7, 2016.
^ "Golf: XPO Logistics nominato partner ufficiale per i trasporti della Evian Championship". SPORTFAIR (in Italian). September 15, 2017. Retrieved October 22, 2017.
^ "XPO Moves The Tour: The Game". App Store. Retrieved July 22, 2019.
^ ^a ^b ^c O'Neal, Lydia (March 25, 2022). "XPO Logistics Sells Intermodal Business to STG". Wall Street Journal. ISSN 0099-9660. Retrieved January 30, 2023.
^ "XPO Logistics will now focus just on trucking, as it spins off and sells other businesses". CNBC. March 8, 2022. Retrieved March 14, 2023.
^ ^a ^b Young, Liz (August 4, 2022). "Brad Jacobs Will Step Aside as CEO of XPO Logistics". Wall Street Journal. ISSN 0099-9660. Retrieved February 2, 2023.
^ "XPO Sets GXO Logistics as Name of New Spinoff Company". Transport Topics. March 18, 2021. Retrieved March 15, 2023.
^ Council, Jared (April 10, 2021). "XPO Logistics Taps CIO for Supply-Chain Services Spinoff". Wall Street Journal. ISSN 0099-9660. Retrieved February 2, 2023.
^ ^a ^b O'Neal, Lydia (March 8, 2022). "XPO Logistics to Spin Off Freight Brokerage, Exit Intermodal and Europe Business". Wall Street Journal. Retrieved August 3, 2022.
^ O'Neal, Lydia (May 9, 2022). "XPO Logistics Names CEO for New Freight Spinoff". Wall Street Journal. Retrieved August 3, 2022.
^ Northington, Laurie (June 9, 2022). "XPO Taps Yoav Amiel as Chief Information Officer for Spin-Off". Home Furnishings Business. Retrieved August 3, 2022.
^ "XPO Names New Tech Brokerage Company RXO". Transport Topics. July 12, 2022. Retrieved July 13, 2022.
^ Schott, Paul (July 13, 2022). "XPO Logistics announces name of truck-brokerage spin-off". CT Insider. Retrieved February 2, 2023.
^ "RXO CEO Drew Wilkerson Named to Charlotte Business Journal's Most Admired CEO list". Yahoo! Finance. Business Wire.
^ Schott, Paul (March 25, 2022). "Greenwich's XPO Logistics sells shipping business for $710M". GreenwichTime. Retrieved January 30, 2023.
^ "XPO names former Old Dominion CFO to board of directors". Transport Dive. Retrieved May 30, 2023.
^ Root, Al. "XPO Stock Soars. One Executive Is Worth More Than Half a Billion Dollars". www.barrons.com. Retrieved May 30, 2023.
^ Nakrosis, Stephen (December 12, 2023). "XPO Gets Approval to Acquire 28 Service Centers as Part of Yellow's Bankruptcy". Wall Street Journal. ISSN 0099-9660. Retrieved December 13, 2023.
^ "XPO ready to deploy 28 new service centers". Yahoo Finance. December 13, 2023. Retrieved December 13, 2023.
^ Jarrell, Zachary (January 25, 2024). "Large freight company acquires former Yellow Corp. facility in Dayton during bankruptcy auction". www.bizjournals.com. Retrieved January 29, 2024.
^ "XPO Logistics to buy U.S. trucker Con-way in $3 bln deal". Reuters. September 9, 2015. Retrieved March 15, 2023.
^ "XPO Logistics invests in IT for the long haul". CIO. Retrieved March 2, 2023.
^ Nelissen, Leo (February 20, 2023). "The Hidden Gem Of Logistics: XPO Inc.'s Untapped Potential (NYSE:XPO) | Seeking Alpha". seekingalpha.com. Retrieved March 2, 2023.
^ ^a ^b Gilroy, Roger (March 25, 2022). "XPO Ramps Up Trailer Production in Arkansas". Transport Topics. Retrieved August 3, 2022.
^ Stocking, Richard (April 8, 2022). "Trucking is changing. Are you adapting?". Commercial Carrier Journal. Retrieved August 3, 2022.
^ Smith, Jennifer (February 7, 2018). "XPO Logistics Extending Home Delivery Service to Europe". Wall Street Journal. ISSN 0099-9660. Archived from the original on November 9, 2020. Retrieved October 31, 2023.
^ "XPO 2022 10-K". Investors - XPO Inc.
^ Baker, Elizabeth (November 30, 2022). "XPO hires more than 1,000 UK drivers in 2022". Parcel and Postal Technology International. Retrieved March 14, 2023.
^ Gilbert, Helen (November 30, 2022). "XPO hires more than 1,000 UK drivers in 2022 following salary review". The Grocer. Archived from the original on April 25, 2024. Retrieved March 14, 2023.
^ ^a ^b Silver-Greenberg, Jessica; Kitroeff, Natalie (October 21, 2018). "Miscarrying at Work: The Physical Toll of Pregnancy Discrimination". The New York Times. ISSN 0362-4331. Retrieved December 6, 2021.
^ "XPO Gains National Notoriety for its Horrific Working Conditions". Memphis Flyer. Retrieved January 15, 2023.
^ "Working conditions in Memphis warehouse linked to miscarriages, NYT reports". The Commercial Appeal. Retrieved January 15, 2023.
^ "Life and Death on the Warehouse Floor". Ms. Magazine. October 31, 2018. Retrieved January 15, 2023.
^ Roosevelt, Margot (October 13, 2021). "Port truckers win $30 million in wage theft settlements". Los Angeles Times. Retrieved July 30, 2023.
^ Kingston, John (October 13, 2021). "XPO settles 2 California worker classification cases for nearly $30M". FreightWaves. Retrieved July 30, 2023.

External links

Official website
Business data for XPO, Inc.:

[locations-1] Schott, Paul (October 31, 2022). "Greenwich-based XPO Logistics to spin off truck-brokerage business on Tuesday". CT Insider. Retrieved March 14, 2023. After the spin-off, XPO will serve about 43,000 shippers, with 564 locations and 38,000 employees worldwide.

[2] "Form 10-k files 02/08/2024".

[10K-2022-3] "XPO, Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 13, 2023.

[Reuters-2-4] "XPO Logistics Ranked Fourth Largest Freight Brokerage Firm and Top 50 Logistics Company". Reuters. November 13, 2013.

[Reuters-1-5] "Profile:XPO Logistics, Inc". Reuters. Archived from the original on October 10, 2010.

[xpo.com-6] "Facts and Figures" (PDF). XPO Logistics. October 31, 2018. Retrieved November 1, 2018.

[WSJ-7] "XPO Logistics hires new CFO as it weighs asset sale". The Wall Street Journal. February 10, 2020.

[8] "XPO Logistics: Fast growth through acquisitions and management style". Westfair Communications. November 17, 2017. Retrieved March 15, 2023.

[:0-9] "Jacobs puts $150 million into Express-1, aims big". Reuters. June 14, 2011. Retrieved March 15, 2023.

[:6-10] Robinson, Chuck (August 9, 2022). "XPO Logistics revenue's up as company manages changes". Land Line. Retrieved February 2, 2023.

[11] "XPO's Billionaire Chairman Is Hunting for His Next Big Deal". Time. November 27, 2022. Retrieved March 14, 2023.

[12] "Better Than Amazon? How Bradley Jacobs Turned A $63M Bet Into A $12 Billion Transportation Empire". Forbes. Retrieved March 14, 2023.

[13] "XPO Logistics heads to NYSE". FreightWaves. June 11, 2012.

[14] "XPO Logistics eyes up to $8bn in deals". Financial Times. May 3, 2018.

[15] "US logistics group XPO buying France's Dentressangle". Business Insider. April 28, 2014.

[:5-16] "XPO Logistics to Acquire Trucker Con-way in $3 Billion Deal". The Wall Street Journal. September 9, 2015.

[17] "XPO Logistics Sells Truckload Shipping Business to TransForce for $558 Million". The Wall Street Journal. October 27, 2016.

[18] "Here are the 15 New Companies Joining the Fortune 500". Fortune. June 6, 2016. Retrieved June 7, 2016.

[19] "Golf: XPO Logistics nominato partner ufficiale per i trasporti della Evian Championship". SPORTFAIR (in Italian). September 15, 2017. Retrieved October 22, 2017.

[20] "XPO Moves The Tour: The Game". App Store. Retrieved July 22, 2019.

[:2-21] O'Neal, Lydia (March 25, 2022). "XPO Logistics Sells Intermodal Business to STG". Wall Street Journal. ISSN 0099-9660. Retrieved January 30, 2023.

[22] "XPO Logistics will now focus just on trucking, as it spins off and sells other businesses". CNBC. March 8, 2022. Retrieved March 14, 2023.

[:3-23] Young, Liz (August 4, 2022). "Brad Jacobs Will Step Aside as CEO of XPO Logistics". Wall Street Journal. ISSN 0099-9660. Retrieved February 2, 2023.

[24] "XPO Sets GXO Logistics as Name of New Spinoff Company". Transport Topics. March 18, 2021. Retrieved March 15, 2023.

[25] Council, Jared (April 10, 2021). "XPO Logistics Taps CIO for Supply-Chain Services Spinoff". Wall Street Journal. ISSN 0099-9660. Retrieved February 2, 2023.

[:4-26] O'Neal, Lydia (March 8, 2022). "XPO Logistics to Spin Off Freight Brokerage, Exit Intermodal and Europe Business". Wall Street Journal. Retrieved August 3, 2022.

[27] O'Neal, Lydia (May 9, 2022). "XPO Logistics Names CEO for New Freight Spinoff". Wall Street Journal. Retrieved August 3, 2022.

[28] Northington, Laurie (June 9, 2022). "XPO Taps Yoav Amiel as Chief Information Officer for Spin-Off". Home Furnishings Business. Retrieved August 3, 2022.

[:8-29] "XPO Names New Tech Brokerage Company RXO". Transport Topics. July 12, 2022. Retrieved July 13, 2022.

[30] Schott, Paul (July 13, 2022). "XPO Logistics announces name of truck-brokerage spin-off". CT Insider. Retrieved February 2, 2023.

[31] "RXO CEO Drew Wilkerson Named to Charlotte Business Journal's Most Admired CEO list". Yahoo! Finance. Business Wire.

[:1-32] Schott, Paul (March 25, 2022). "Greenwich's XPO Logistics sells shipping business for $710M". GreenwichTime. Retrieved January 30, 2023.

[33] "XPO names former Old Dominion CFO to board of directors". Transport Dive. Retrieved May 30, 2023.

[34] Root, Al. "XPO Stock Soars. One Executive Is Worth More Than Half a Billion Dollars". www.barrons.com. Retrieved May 30, 2023.

[35] Nakrosis, Stephen (December 12, 2023). "XPO Gets Approval to Acquire 28 Service Centers as Part of Yellow's Bankruptcy". Wall Street Journal. ISSN 0099-9660. Retrieved December 13, 2023.

[36] "XPO ready to deploy 28 new service centers". Yahoo Finance. December 13, 2023. Retrieved December 13, 2023.

[37] Jarrell, Zachary (January 25, 2024). "Large freight company acquires former Yellow Corp. facility in Dayton during bankruptcy auction". www.bizjournals.com. Retrieved January 29, 2024.

[38] "XPO Logistics to buy U.S. trucker Con-way in $3 bln deal". Reuters. September 9, 2015. Retrieved March 15, 2023.

[39] "XPO Logistics invests in IT for the long haul". CIO. Retrieved March 2, 2023.

[:7-40] Nelissen, Leo (February 20, 2023). "The Hidden Gem Of Logistics: XPO Inc.'s Untapped Potential (NYSE:XPO) | Seeking Alpha". seekingalpha.com. Retrieved March 2, 2023.

[:9-41] Gilroy, Roger (March 25, 2022). "XPO Ramps Up Trailer Production in Arkansas". Transport Topics. Retrieved August 3, 2022.

[42] Stocking, Richard (April 8, 2022). "Trucking is changing. Are you adapting?". Commercial Carrier Journal. Retrieved August 3, 2022.

[43] Smith, Jennifer (February 7, 2018). "XPO Logistics Extending Home Delivery Service to Europe". Wall Street Journal. ISSN 0099-9660. Archived from the original on November 9, 2020. Retrieved October 31, 2023.

[44] "XPO 2022 10-K". Investors - XPO Inc.

[45] Baker, Elizabeth (November 30, 2022). "XPO hires more than 1,000 UK drivers in 2022". Parcel and Postal Technology International. Retrieved March 14, 2023.

[46] Gilbert, Helen (November 30, 2022). "XPO hires more than 1,000 UK drivers in 2022 following salary review". The Grocer. Archived from the original on April 25, 2024. Retrieved March 14, 2023.

[nytimes-47] Silver-Greenberg, Jessica; Kitroeff, Natalie (October 21, 2018). "Miscarrying at Work: The Physical Toll of Pregnancy Discrimination". The New York Times. ISSN 0362-4331. Retrieved December 6, 2021.

[48] "XPO Gains National Notoriety for its Horrific Working Conditions". Memphis Flyer. Retrieved January 15, 2023.

[49] "Working conditions in Memphis warehouse linked to miscarriages, NYT reports". The Commercial Appeal. Retrieved January 15, 2023.

[50] "Life and Death on the Warehouse Floor". Ms. Magazine. October 31, 2018. Retrieved January 15, 2023.

[51] Roosevelt, Margot (October 13, 2021). "Port truckers win $30 million in wage theft settlements". Los Angeles Times. Retrieved July 30, 2023.

[52] Kingston, John (October 13, 2021). "XPO settles 2 California worker classification cases for nearly $30M". FreightWaves. Retrieved July 30, 2023.

[1]

[2]

[3]

[4]

[5]

[6]

[7]

[8]

[9]

[10]

[11]

[12]

[13]

[14]

[15]

[16]

[17]

[18]

[19]

[20]

[21]

[22]

[23]

[24]

[25]

[26]

[27]

[28]

[29]

[30]

[31]

[32]

[33]

[34]

[35]

[36]

[37]

[38]

[39]

[40]

[41]

[42]

[43]

[44]

[45]

[46]

[47]

[48]

[49]

[50]

[51]

[52]

@@ Line 5: / Line 5: @@
 | name = XPO, Inc.
 | former_name = XPO Logistics, Inc.<br />(2011–2022)
-| logo = XPO, Inc (2023).png
+| logo = XPO, Inc (2023).svg
-| type = [[Public company]]
+| type = [[Public company|Public]]
 | traded_as = {{ubl|class=nowrap|{{NYSE|XPO}}|[[S&P 400]] component}}
-| hq_location = {{nowrap|[[Greenwich, Connecticut]], U.S.}}
+| hq_location = {{nowrap|[[Greenwich, Connecticut]], US}}
-| num_locations = 564 (2022) <ref name=locations> {{cite web |url=https://www.ctinsider.com/business/article/XPO-Logistics-17543737.php |title=Greenwich-based XPO Logistics to spin off truck-brokerage business on Tuesday |date=October 31, 2022 |publisher=CT Insider}}</ref>
+| num_locations = 564 (2022)<ref name="locations">{{Cite web |last=Schott |first=Paul |date=2022-10-31 |title=Greenwich-based XPO Logistics to spin off truck-brokerage business on Tuesday |url=https://www.ctinsider.com/business/article/XPO-Logistics-17543737.php |access-date=2023-03-14 |website=CT Insider |language=en-US |quote=After the spin-off, XPO will serve about 43,000 shippers, with 564 locations and 38,000 employees worldwide.}}</ref>
 | key_people = {{ubl|[[Brad_Jacobs_(entrepreneur)|Brad Jacobs]] (Chairman)|Mario Harik (CEO)|Dave Bates (COO)}}
 | founded = {{Start date and age|2000}}
 | founder = [[Brad_Jacobs_(entrepreneur)|Brad Jacobs]]
-| revenue = {{nowrap|{{increase}} {{US$|7.72 billion|link=yes}} (2022)}}
+| revenue = {{nowrap|{{increase}} {{US$|7.74 billion|link=yes}} (2023)}}
-| operating_income = {{nowrap|{{increase}} US$377 million (2022)}}
+| operating_income = {{nowrap|{{increase}} US$438 million (2023)}}
-| net_income = {{nowrap|{{increase}} US$666 million (2022)}}
+| net_income = {{nowrap|{{decrease}} US$189 million (2023)}}
-| assets = {{nowrap|{{decrease}} US$6.27 billion (2022)}}
+| assets = {{nowrap|{{increase}} US$7.5 billion (2023)}}
-| equity = {{nowrap|{{decrease}} US$1.01 billion (2022)}}
+| equity = {{nowrap|{{increase}} US$1.27 billion (2023)}}
-| num_employees = 38,000 (December 2022)<ref name=locations> {{cite web |url=https://www.ctinsider.com/business/article/XPO-Logistics-17543737.php |title=Greenwich-based XPO Logistics to spin off truck-brokerage business on Tuesday |date=October 31, 2022 |publisher=CT Insider}}</ref>
+| num_employees = 38,000 (December 2023)<ref name="locations" />
-| website = {{url|xpo.com}}
+| website = {{Official url}}
-| footnotes = <ref name=10K-2022>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1166003/000116600323000017/xpo-20221231.htm |title=XPO, Inc. 2022 Annual Report (Form 10-K) |date=February 13, 2023 |publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref name="Reuters-2">{{Cite news |date=November 13, 2013 |title=XPO Logistics Ranked Fourth Largest Freight Brokerage Firm and Top 50 Logistics Company |publisher=Reuters |url=https://www.xpo.com/solutions/transportation/freight-brokerage}}</ref><ref name="Reuters-1">{{Cite news |title=Profile:XPO Logistics, Inc. |publisher=Reuters |url=https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=XPO |url-status=dead |archive-url=https://web.archive.org/web/20101010080126/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=XPO |archive-date=October 10, 2010}}</ref><ref name="xpo.com">{{Cite web |date=October 31, 2018 |title=Facts and Figures |url=https://xpodotcomtest01.blob.core.windows.net/xpodotcomtest01blob01/xpo_pdfs/Newsroom/FactSheet-10.31.2018_KFeTOkW.pdf |access-date=November 1, 2018 |website=XPO Logistics}}</ref><ref name="WSJ">{{Cite news |date=February 10, 2020 |title=XPO Logistics hires new CFO as it weighs asset sale |work=The Wall Street Journal |url=https://www.wsj.com/articles/xpo-logistics-hires-new-cfo-as-it-weighs-asset-sale-11581370818}}</ref>
+| footnotes = <ref>{{cite web |title=Form 10-k files 02/08/2024 |url=https://investors.xpo.com/static-files/c991a522-615c-4df6-880c-510d4dfae76f}}</ref><ref name="10K-2022">{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1166003/000116600323000017/xpo-20221231.htm |title=XPO, Inc. 2022 Annual Report (Form 10-K) |date=February 13, 2023 |publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref name="Reuters-2">{{Cite news |date=November 13, 2013 |title=XPO Logistics Ranked Fourth Largest Freight Brokerage Firm and Top 50 Logistics Company |publisher=Reuters |url=https://www.xpo.com/solutions/transportation/freight-brokerage}}</ref><ref name="Reuters-1">{{Cite news |title=Profile:XPO Logistics, Inc. |publisher=Reuters |url=https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=XPO |url-status=dead |archive-url=https://web.archive.org/web/20101010080126/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=XPO |archive-date=October 10, 2010}}</ref><ref name="xpo.com">{{Cite web |date=October 31, 2018 |title=Facts and Figures |url=https://xpodotcomtest01.blob.core.windows.net/xpodotcomtest01blob01/xpo_pdfs/Newsroom/FactSheet-10.31.2018_KFeTOkW.pdf |access-date=November 1, 2018 |website=XPO Logistics}}</ref><ref name="WSJ">{{Cite news |date=February 10, 2020 |title=XPO Logistics hires new CFO as it weighs asset sale |work=The Wall Street Journal |url=https://www.wsj.com/articles/xpo-logistics-hires-new-cfo-as-it-weighs-asset-sale-11581370818}}</ref>
 }}
-'''XPO, Inc.''' is an American transportation company that conducts [[less-than-truckload shipping]] in North America.<ref>{{cite web |title=XPO Logistics: Fast growth through acquisitions and management style |url=https://westfaironline.com/fairfield/xpo-logistics-fast-growth-acquisitions-management-style/ |website=Westfair Communications |access-date=15 March 2023 |date=17 November 2017}}</ref><ref>{{cite web |title=Jacobs puts $150 million into Express-1, aims big |url=https://www.reuters.com/article/us-express1/jacobs-puts-150-million-into-express-1-aims-big-idUSTRE75D6N720110614 |website=Reuters |access-date=15 March 2023 |language=en |date=14 June 2011}}</ref><ref>{{cite web |title=XPO Logistics revenue’s up as company manages changes |url=https://landline.media/xpo-logistics-revenues-up-as-company-manages-changes/ |website=Land Line |access-date=15 March 2023 |date=9 August 2022}}</ref> The company has headquarters in [[Greenwich, Connecticut]], U.S., and 564 locations globally.<ref>{{Cite web |last=Schott |first=Paul |date=2022-10-31 |title=Greenwich-based XPO Logistics to spin off truck-brokerage business on Tuesday |url=https://www.ctinsider.com/business/article/XPO-Logistics-17543737.php |access-date=2023-03-14 |website=CT Insider |language=en-US|quote=After the spin-off, XPO will serve about 43,000 shippers, with 564 locations and 38,000 employees worldwide.}}</ref>
+'''XPO, Inc.''' is an American transportation company that conducts [[less-than-truckload shipping]] in North America.<ref>{{cite web |title=XPO Logistics: Fast growth through acquisitions and management style |url=https://westfaironline.com/fairfield/xpo-logistics-fast-growth-acquisitions-management-style/ |website=Westfair Communications |access-date=15 March 2023 |date=17 November 2017}}</ref><ref name=":0">{{cite web |title=Jacobs puts $150 million into Express-1, aims big |url=https://www.reuters.com/article/us-express1/jacobs-puts-150-million-into-express-1-aims-big-idUSTRE75D6N720110614 |website=Reuters |access-date=15 March 2023 |language=en |date=14 June 2011}}</ref><ref name=":6">{{Cite web |last=Robinson |first=Chuck |date=2022-08-09 |title=XPO Logistics revenue's up as company manages changes |url=https://landline.media/xpo-logistics-revenues-up-as-company-manages-changes/ |access-date=2023-02-02 |website=Land Line |language=en-US}}</ref> The company has headquarters in [[Greenwich, Connecticut]], US and 564 locations globally.<ref name="locations" />
 ==History==
-=== 2011-2021 ===
+=== 2011–2021 ===
-The company was initially called Express-1 Expedited Solutions and listed on [[NYSE American|American Stock Exchange]] under the ticker symbol XPO. It was acquired by [[Brad Jacobs (businessperson)|Brad Jacobs]] and renamed to XPO Logistics in September 2011.<ref>{{cite web |title=Jacobs puts $150 million into Express-1, aims big |url=https://www.reuters.com/article/us-express1/jacobs-puts-150-million-into-express-1-aims-big-idUSTRE75D6N720110614 |website=Reuters |access-date=14 March 2023 |language=en |date=14 June 2011}}</ref><ref>{{cite web |title=XPO’s Billionaire Chairman Is Hunting for His Next Big Deal |url=https://time.com/6237005/xpo-brad-jacobs-interview/ |website=Time |access-date=14 March 2023 |language=en |date=27 November 2022}}</ref><ref>{{cite web |title=Better Than Amazon? How Bradley Jacobs Turned A $63M Bet Into A $12 Billion Transportation Empire |url=https://www.forbes.com/sites/antoinegara/2018/04/10/xpo-logistics-bradley-jacobs-billionaire/?sh=6daf5b5cca6c |website=Forbes |access-date=14 March 2023 |language=en}}</ref> In June 2012, XPO listed its shares on the New York Stock Exchange.<ref>{{cite web |title=XPO Logistics heads to NYSE |url=https://www.freightwaves.com/news/xpo-logistics-heads-to-nyse |website=FreightWaves |date=11 June 2012}}</ref>
+The company was initially called Express-1 Expedited Solutions and listed on [[NYSE American|American Stock Exchange]] under the ticker symbol XPO. It was acquired by [[Brad Jacobs (businessperson)|Brad Jacobs]] and renamed to XPO Logistics in September 2011.<ref name=":0" /><ref>{{cite magazine |title=XPO's Billionaire Chairman Is Hunting for His Next Big Deal |url=https://time.com/6237005/xpo-brad-jacobs-interview/ |magazine=Time |access-date=14 March 2023 |language=en |date=27 November 2022}}</ref><ref>{{cite web |title=Better Than Amazon? How Bradley Jacobs Turned A $63M Bet Into A $12 Billion Transportation Empire |url=https://www.forbes.com/sites/antoinegara/2018/04/10/xpo-logistics-bradley-jacobs-billionaire/?sh=6daf5b5cca6c |website=Forbes |access-date=14 March 2023 |language=en}}</ref> In June 2012, XPO listed its shares on the New York Stock Exchange.<ref>{{cite web |title=XPO Logistics heads to NYSE |url=https://www.freightwaves.com/news/xpo-logistics-heads-to-nyse |website=FreightWaves |date=11 June 2012}}</ref>
-XPO has acquired a number of logistics businesses in North America and overseas.<ref>{{Cite news |date=May 3, 2018 |title=XPO Logistics eyes up to $8bn in deals |work=[[Financial Times]] |url=https://www.ft.com/content/57ceaecc-4e44-11e8-a7a9-37318e776bab}}</ref> Some notable acquisitions include: [[3PD, Inc.]] (August 2013), [[Pacer International|Pacer International, Inc.]] (March 2014), [[Norbert Dentressangle|Norbert Dentressangle SA]] (April 2015) and [[Con-way|Con-way Inc.]] (October 2015). XPO paid US$3.56 billion, including acquired debt, for European transport company [[Norbert Dentressangle]] and US$3 billion for Con-way Inc.<ref>{{Cite web |date=April 28, 2014 |title=US logistics group XPO buying France's Dentressangle |url=http://www.businessinsider.com/afp-us-logistics-group-xpo-buying-frances-dentressangle-2015-4?IR=T |website=Business Insider}}</ref><ref name=":5">{{Cite web |date=September 9, 2015 |title=XPO Logistics to Acquire Trucker Con-way in $3 Billion Deal |url=https://www.wsj.com/articles/xpo-logistics-to-buy-con-way-1441834011 |publisher=[[The Wall Street Journal]]}}</ref>
+XPO has acquired a number of logistics businesses in North America and overseas.<ref>{{Cite news |date=May 3, 2018 |title=XPO Logistics eyes up to $8bn in deals |work=[[Financial Times]] |url=https://www.ft.com/content/57ceaecc-4e44-11e8-a7a9-37318e776bab}}</ref> Some notable acquisitions include: [[3PD, Inc.]] (August 2013), [[Pacer International|Pacer International, Inc.]] (March 2014), [[Norbert Dentressangle|Norbert Dentressangle SA]] (April 2015) and [[Con-way|Con-way Inc.]] (October 2015). XPO paid US$3.56 billion, which included acquired debt, for European transport company Norbert Dentressangle and $3 billion for Con-way.<ref>{{Cite web |date=April 28, 2014 |title=US logistics group XPO buying France's Dentressangle |url=http://www.businessinsider.com/afp-us-logistics-group-xpo-buying-frances-dentressangle-2015-4?IR=T |website=Business Insider}}</ref><ref name=":5">{{Cite web |date=September 9, 2015 |title=XPO Logistics to Acquire Trucker Con-way in $3 Billion Deal |url=https://www.wsj.com/articles/xpo-logistics-to-buy-con-way-1441834011 |publisher=[[The Wall Street Journal]]}}</ref>
 XPO sold its truckload division (acquired from Con-Way) to [[TFI International|TransForce]] for $558 million in cash.<ref>{{Cite web |date=October 27, 2016 |title=XPO Logistics Sells Truckload Shipping Business to TransForce for $558 Million |url=https://www.wsj.com/articles/xpo-logistics-sells-truckload-shipping-business-to-transforce-for-558-million-1477598581 |publisher=[[The Wall Street Journal]]}}</ref>
-In June 2016, XPO was included in the [[Fortune 500]] list of the largest U.S. corporations based on revenue.<ref>{{Cite web |date=June 6, 2016 |title=Here are the 15 New Companies Joining the Fortune 500 |url=http://fortune.com/2016/06/06/fortune-500-companies-making-debuts/ |access-date=June 7, 2016 |website=[[Fortune (magazine)|Fortune]]}}</ref>
+In June 2016, XPO was included in the [[Fortune 500]] list of the largest US corporations based on revenue.<ref>{{Cite web |date=June 6, 2016 |title=Here are the 15 New Companies Joining the Fortune 500 |url=http://fortune.com/2016/06/06/fortune-500-companies-making-debuts/ |access-date=June 7, 2016 |website=[[Fortune (magazine)|Fortune]]}}</ref>
-The company has conducted logistics operations for the Evian Golf Championship and the Paris Marathon.<ref>{{Cite news |date=September 15, 2017 |title=Golf: XPO Logistics nominato partner ufficiale per i trasporti della Evian Championship |language=it-IT |work=SPORTFAIR |url=http://www.sportfair.it/2017/09/golf-xpo-logistics-nominato-partner-ufficiale-per-i-trasporti-della-evian-championship/603897/ |access-date=October 22, 2017}}</ref> In 2019, XPO Logistics released a mobile game simulating freight operations for the [[Tour de France]].<ref>{{Cite web |title=XPO Moves The Tour: The Game |url=https://apps.apple.com/us/app/xpo-moves-the-tour-the-game/id1470472916 |access-date=July 22, 2019 |website=App Store}}</ref>
+The company has conducted logistics operations for the Evian Golf Championship and the [[Paris Marathon]].<ref>{{Cite news |date=September 15, 2017 |title=Golf: XPO Logistics nominato partner ufficiale per i trasporti della Evian Championship |language=it-IT |work=SPORTFAIR |url=http://www.sportfair.it/2017/09/golf-xpo-logistics-nominato-partner-ufficiale-per-i-trasporti-della-evian-championship/603897/ |access-date=October 22, 2017}}</ref> In 2019, XPO Logistics released a mobile game simulating freight operations for the [[Tour de France]].<ref>{{Cite web |title=XPO Moves The Tour: The Game |url=https://apps.apple.com/us/app/xpo-moves-the-tour-the-game/id1470472916 |access-date=July 22, 2019 |website=App Store}}</ref>
-Beginning in 2021, XPO Logistics broke into three separate publicly-traded companies, making XPO solely an LTL provider.<ref>{{Cite news |last=O’Neal |first=Lydia |date=2022-03-25 |title=XPO Logistics Sells Intermodal Business to STG |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/xpo-logistics-sells-intermodal-business-to-stg-11648235219 |access-date=2023-02-02 |issn=0099-9660}}</ref><ref>{{cite web |title=XPO Logistics will now focus just on trucking, as it spins off and sells other businesses |url=https://www.cnbc.com/2022/03/08/xpo-logistics-will-focus-only-on-trucking-will-spin-off-sell-other-units.html |access-date=14 March 2023 |website=CNBC |language=en}}</ref>
+Beginning in 2021, XPO Logistics broke into three separate publicly-traded companies, making XPO solely an LTL ([[less-than-truckload]]) provider.<ref name=":2" /><ref>{{cite web |title=XPO Logistics will now focus just on trucking, as it spins off and sells other businesses |url=https://www.cnbc.com/2022/03/08/xpo-logistics-will-focus-only-on-trucking-will-spin-off-sell-other-units.html |access-date=14 March 2023 |website=CNBC |date=March 8, 2022 |language=en}}</ref>
 [[File:XPO Truck and Trailer on Bridge.png|thumb|186x186px|XPO truck]]
 === GXO Logistics ===
-In August 2021, the company spun off its contract logistics business into a separate company named [[GXO (company)|GXO Logistics]], with facilities located primarily throughout North America and Europe.<ref name=":3">{{Cite news |last=Young |first=Liz |date=2022-08-04 |title=Brad Jacobs Will Step Aside as CEO of XPO Logistics |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/bradley-jacobs-will-step-aside-as-ceo-of-xpo-logistics-11659643980 |access-date=2023-02-02 |issn=0099-9660}}</ref><ref>{{cite web |title=XPO Logistics Sells Intermodal Business to STG |url=https://www.wsj.com/articles/xpo-logistics-sells-intermodal-business-to-stg-11648235219 |website=WSJ |access-date=15 March 2023}}</ref> GXO stands for “game-changing opportunities”.<ref>{{cite web |title=XPO Sets GXO Logistics as Name of New Spinoff Company |url=https://www.ttnews.com/articles/xpo-sets-gxo-logistics-name-new-spinoff-company |website=Transport Topics |access-date=15 March 2023 |language=en |date=18 March 2021}}</ref> Malcolm Wilson is the CEO of the company.<ref>{{Cite news |last=Council |first=Jared |date=2021-04-10 |title=XPO Logistics Taps CIO for Supply-Chain Services Spinoff |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/xpo-logistics-taps-cio-for-supply-chain-services-spinoff-11618013923 |access-date=2023-02-02 |issn=0099-9660}}</ref>
+In August 2021, the company spun off its contract logistics business into a separate company named [[GXO Logistics]], with facilities located primarily throughout North America and Europe.<ref name=":3">{{Cite news |last=Young |first=Liz |date=2022-08-04 |title=Brad Jacobs Will Step Aside as CEO of XPO Logistics |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/bradley-jacobs-will-step-aside-as-ceo-of-xpo-logistics-11659643980 |access-date=2023-02-02 |issn=0099-9660}}</ref><ref name=":2" /> GXO stands for "game-changing opportunities".<ref>{{cite web |title=XPO Sets GXO Logistics as Name of New Spinoff Company |url=https://www.ttnews.com/articles/xpo-sets-gxo-logistics-name-new-spinoff-company |website=Transport Topics |access-date=15 March 2023 |language=en |date=18 March 2021}}</ref> Malcolm Wilson is the CEO of the company.<ref>{{Cite news |last=Council |first=Jared |date=2021-04-10 |title=XPO Logistics Taps CIO for Supply-Chain Services Spinoff |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/xpo-logistics-taps-cio-for-supply-chain-services-spinoff-11618013923 |access-date=2023-02-02 |issn=0099-9660}}</ref>
 === RXO ===
-This was followed by XPO Logistics spinning off its brokerage and other services segment to a separate company named RXO, Inc. in November 2022.<ref name=":4">{{Cite web |last=O'Neal |first=Lydia |date=March 8, 2022 |title=XPO Logistics to Spin Off Freight Brokerage, Exit Intermodal and Europe Business |url=https://wsj-articles-legacy.sc.onservo.com/articles/xpo-logistics-to-spin-off-freight-brokerage-11646773380 |url-status=live |access-date=August 3, 2022 |website=Wall Street Journal}}</ref><ref>{{Cite web |last=O'Neal |first=Lydia |date=May 9, 2022 |title=XPO Logistics Names CEO for New Freight Spinoff |url=https://www.wsj.com/articles/xpo-logistics-names-ceo-for-new-freight-spinoff-11652126580?mod=Searchresults_pos1&page=1 |url-status=live |access-date=August 3, 2022 |website=Wall Street Journal}}</ref><ref>{{Cite web |last=Northington |first=Laurie |date=June 9, 2022 |title=XPO Taps Yoav Amiel as Chief Information Officer for Spin-Off |url=http://hfbusiness.com/hfbnow/articleid/22560/xpo-taps-yoav-amiel-as-chief-information-officer-for-spin-off |url-status=live |access-date=August 3, 2022 |website=Home Furnishings Business}}</ref><ref>{{Cite web |date=July 12, 2022 |title=XPO Names New Tech Brokerage Company RXO |url=https://www.ttnews.com/articles/xpo-names-new-tech-brokerage-company-rxo |access-date=July 13, 2022 |website=Transport Topics}}</ref> RXO, which stands for “reliability multiplied by outperformance” and provides global forwarding.<ref>{{cite web |title=XPO Names New Tech Brokerage Company RXO |url=https://www.ttnews.com/articles/xpo-names-new-tech-brokerage-company-rxo |website=Transport Topics |access-date=14 March 2023 |language=en |date=12 July 2022}}</ref> RXO is headquartered in [[Charlotte, North Carolina]], and provides managed transportation and last-mile logistics.<ref>{{Cite web |last=Schott |first=Paul |date=2022-07-13 |title=XPO Logistics announces name of truck-brokerage spin-off |url=https://www.ctinsider.com/business/article/XPO-Logistics-announces-name-of-truck-brokerage-17301242.php |access-date=2023-02-02 |website=CT Insider |language=en-US}}</ref> Drew Wilkerson was appointed to CEO of the company.<ref>{{Cite web |last=Robinson |first=Chuck |date=2022-08-09 |title=XPO Logistics revenue's up as company manages changes |url=https://landline.media/xpo-logistics-revenues-up-as-company-manages-changes/ |access-date=2023-02-02 |website=Land Line |language=en-US}}</ref>
+This was followed by XPO spinning off its brokerage and other services{{mdash}}managed transportation, global forwarding and last-mile logistics{{mdash}}business to a separate company named RXO, Inc. in November 2022.<ref name=":4">{{Cite web |last=O'Neal |first=Lydia |date=March 8, 2022 |title=XPO Logistics to Spin Off Freight Brokerage, Exit Intermodal and Europe Business |url=https://wsj-articles-legacy.sc.onservo.com/articles/xpo-logistics-to-spin-off-freight-brokerage-11646773380 |access-date=August 3, 2022 |website=Wall Street Journal}}</ref><ref>{{Cite web |last=O'Neal |first=Lydia |date=May 9, 2022 |title=XPO Logistics Names CEO for New Freight Spinoff |url=https://www.wsj.com/articles/xpo-logistics-names-ceo-for-new-freight-spinoff-11652126580?mod=Searchresults_pos1&page=1 |access-date=August 3, 2022 |website=Wall Street Journal}}</ref><ref>{{Cite web |last=Northington |first=Laurie |date=June 9, 2022 |title=XPO Taps Yoav Amiel as Chief Information Officer for Spin-Off |url=http://hfbusiness.com/hfbnow/articleid/22560/xpo-taps-yoav-amiel-as-chief-information-officer-for-spin-off |access-date=August 3, 2022 |website=Home Furnishings Business}}</ref><ref name=":8">{{Cite web |date=July 12, 2022 |title=XPO Names New Tech Brokerage Company RXO |url=https://www.ttnews.com/articles/xpo-names-new-tech-brokerage-company-rxo |access-date=July 13, 2022 |website=Transport Topics}}</ref> RXO is headquartered in [[Charlotte, North Carolina]].<ref>{{Cite web |last=Schott |first=Paul |date=2022-07-13 |title=XPO Logistics announces name of truck-brokerage spin-off |url=https://www.ctinsider.com/business/article/XPO-Logistics-announces-name-of-truck-brokerage-17301242.php |access-date=2023-02-02 |website=CT Insider |language=en-US}}</ref> Drew Wilkerson is CEO of the company.<ref>{{cite web |title=RXO CEO Drew Wilkerson Named to Charlotte Business Journal’s Most Admired CEO list |url=https://finance.yahoo.com/news/rxo-ceo-drew-wilkerson-named-123000232.html |website=Yahoo! Finance |publisher=Business Wire}}</ref>
 === 2022–present ===
-XPO dropped “Logistics” from its name in December 2022 and remains solely as an LTL carrier, which allows multiple customers to transport goods in the same truck.<ref name=":4" /> In August 2022, [[Brad Jacobs (entrepreneur)|Brad Jacobs]] announced he was stepping down as CEO and would serve as executive chairman. Mario Harik, XPO’s former chief information officer, who also serves as the company’s president, was appointed to CEO.<ref name=":3" /> In March 2022, XPO sold its North American intermodal business to Illinois-based [[STG Logistics]] for $710 million.<ref name=":1">{{Cite web |last=Schott |first=Paul |date=2022-03-25 |title=Greenwich's XPO Logistics sells shipping business for $710M |url=https://www.greenwichtime.com/business/article/Greenwich-s-XPO-Logistics-sells-shipping-17029262.php |access-date=2023-01-30 |website=GreenwichTime |language=en-US}}</ref><ref name=":2">{{Cite news |last=O’Neal |first=Lydia |date=2022-03-25 |title=XPO Logistics Sells Intermodal Business to STG |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/xpo-logistics-sells-intermodal-business-to-stg-11648235219 |access-date=2023-01-30 |issn=0099-9660}}</ref> In March 2023, XPO appointed J. Wes Frye, a retired industry veteran, to its board of directors.<ref>{{Cite web |title=XPO names former Old Dominion CFO to board of directors |url=https://www.transportdive.com/news/XPO-names-retired-Old-Dominion-CFO-J-Wes-Frye-to-board-of-directors/644770/ |access-date=2023-05-30 |website=Transport Dive |language=en-US}}</ref> In April 2023, XPO announced the hire of Dave Bates as chief operating officer of North American LTL.<ref>{{Cite web |last=Root |first=Al |title=XPO Stock Soars. One Executive Is Worth More Than Half a Billion Dollars. |url=https://www.barrons.com/articles/xpo-stock-soars-chief-operating-officer-4279c874 |access-date=2023-05-30 |website=www.barrons.com |language=en-US}}</ref>
+XPO dropped "Logistics" from its name in December 2022 and remains solely an LTL carrier, which allows multiple customers to transport goods in the same truck.<ref name=":4" /> In August 2022, [[Brad Jacobs (entrepreneur)|Brad Jacobs]] announced he was stepping down as CEO and would serve as executive chairman. Mario Harik, XPO's former chief information officer, who also serves as the company's president, was appointed as CEO.<ref name=":3" /> In March 2022, XPO sold its North American [[Intermodal freight transport|intermodal]] business to Illinois-based [[STG Logistics]] for $710 million.<ref name=":1">{{Cite web |last=Schott |first=Paul |date=2022-03-25 |title=Greenwich's XPO Logistics sells shipping business for $710M |url=https://www.greenwichtime.com/business/article/Greenwich-s-XPO-Logistics-sells-shipping-17029262.php |access-date=2023-01-30 |website=GreenwichTime |language=en-US}}</ref><ref name=":2">{{Cite news |last=O'Neal |first=Lydia |date=2022-03-25 |title=XPO Logistics Sells Intermodal Business to STG |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/xpo-logistics-sells-intermodal-business-to-stg-11648235219 |access-date=2023-01-30 |issn=0099-9660}}</ref> In March 2023, XPO appointed J. Wes Frye, a retired industry veteran, to its board of directors.<ref>{{Cite web |title=XPO names former Old Dominion CFO to board of directors |url=https://www.transportdive.com/news/XPO-names-retired-Old-Dominion-CFO-J-Wes-Frye-to-board-of-directors/644770/ |access-date=2023-05-30 |website=Transport Dive |language=en-US}}</ref> In April 2023, XPO announced the hire of Dave Bates as chief operating officer of North American LTL.<ref>{{Cite web |last=Root |first=Al |title=XPO Stock Soars. One Executive Is Worth More Than Half a Billion Dollars. |url=https://www.barrons.com/articles/xpo-stock-soars-chief-operating-officer-4279c874 |access-date=2023-05-30 |website=www.barrons.com |language=en-US}}</ref> In December 2023, XPO received approval from a Delaware bankruptcy court to acquire 28 service centers of [[Yellow Corporation]] for $870 million as a part of [[Chapter 11 bankruptcy]].<ref>{{Cite news |last=Nakrosis |first=Stephen |date=2023-12-12 |title=XPO Gets Approval to Acquire 28 Service Centers as Part of Yellow's Bankruptcy |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/xpo-gets-approval-to-acquire-28-service-centers-as-part-of-yellows-bankruptcy-47619ecc |access-date=2023-12-13 |issn=0099-9660}}</ref><ref>{{Cite web |date=2023-12-13 |title=XPO ready to deploy 28 new service centers |url=https://finance.yahoo.com/news/xpo-ready-deploy-28-centers-013841636.html |access-date=2023-12-13 |website=Yahoo Finance |language=en-US}}</ref> The acquisition was finalized in January 2024.<ref>{{Cite web |last=Jarrell |first=Zachary |date=Jan 25, 2024 |title=Large freight company acquires former Yellow Corp. facility in Dayton during bankruptcy auction |url=https://www.bizjournals.com/dayton/news/2024/01/25/xpo-dayton-yellow-corp-terminal-bankruptcy.html |access-date=2024-01-29 |website=www.bizjournals.com}}</ref>
 == Operations ==
 === North American LTL ===
+[[File:XPO LTL.jpg|thumb|XPO [[Less-than-truckload shipping|LTL]] facility in [[Tomah, Wisconsin]], formerly a [[Con-way Freight]] terminal]]
-XPO is the second largest provider of less-than-truckload services in North America.<ref>{{cite web |title=UPDATE 1-XPO Logistics to buy U.S. trucker Con-way in $3 bln deal |url=https://www.reuters.com/article/conway-ma-xpo/update-1-xpo-logistics-to-buy-u-s-trucker-con-way-in-3-bln-deal-idUSL4N11F5II20150909 |website=Reuters |access-date=15 March 2023 |language=en |date=9 September 2015}}</ref> Since November 2022, the company’s North American operations have been solely focused on LTL ([[Less-than-truckload shipping|less-than-truckload]]) freight transportation.<ref>{{Cite web |title=XPO Logistics invests in IT for the long haul |url=https://www.cio.com/article/412675/xpo-logistics-invests-in-it-for-the-long-haul.html |access-date=2023-03-02 |website=CIO |language=en-US}}</ref> LTL is a freight model which involves shipping smaller quantities of goods for multiple customers at a time.<ref name=":7">{{Cite web |last=Nelissen |first=Leo |date=2023-02-20 |title=The Hidden Gem Of Logistics: XPO Inc.'s Untapped Potential (NYSE:XPO) {{!}} Seeking Alpha |url=https://seekingalpha.com/article/4580043-xpo-logistics-untapped-potential-hold |access-date=2023-03-02 |website=seekingalpha.com |language=en}}</ref> In 2022, XPO's CEO stated that the company operates in 99% of US zip codes.<ref>{{cite web |title=XPO Ramps Up Trailer Production in Arkansas |url=https://www.ttnews.com/articles/xpo-ramps-trailer-production-arkansas |website=Transport Topics |access-date=14 March 2023 |language=en |date=25 March 2022}}</ref> {{As of|March 2022}}, XPO produces new and remanufactured trailers at a factory in [[Searcy, Arkansas]].<ref>{{Cite web |last=Gilroy |first=Roger |date=March 25, 2022 |title=XPO Ramps Up Trailer Production in Arkansas |url=https://www.ttnews.com/articles/xpo-ramps-trailer-production-arkansas |url-status=live |access-date=August 3, 2022 |website=Transport Topics}}</ref><ref>{{Cite web |last=Stocking |first=Richard |date=April 8, 2022 |title=Trucking is changing. Are you adapting? |url=https://www.ccjdigital.com/business/article/15290546/are-you-adapting-to-changes-in-the-trucking-industry |url-status=live |access-date=August 3, 2022 |website=Commercial Carrier Journal}}</ref>
+XPO is the second largest provider of less-than-truckload services in North America.<ref>{{cite web |date=9 September 2015 |title=XPO Logistics to buy U.S. trucker Con-way in $3 bln deal |url=https://www.reuters.com/article/conway-ma-xpo/update-1-xpo-logistics-to-buy-u-s-trucker-con-way-in-3-bln-deal-idUSL4N11F5II20150909 |access-date=15 March 2023 |website=Reuters |language=en}}</ref> Since November 2022, the company's North American operations have been solely focused on LTL freight transportation.<ref>{{Cite web |title=XPO Logistics invests in IT for the long haul |url=https://www.cio.com/article/412675/xpo-logistics-invests-in-it-for-the-long-haul.html |access-date=2023-03-02 |website=CIO |language=en-US}}</ref> LTL is a freight model which involves shipping smaller quantities of goods for multiple customers at a time.<ref name=":7">{{Cite web |last=Nelissen |first=Leo |date=2023-02-20 |title=The Hidden Gem Of Logistics: XPO Inc.'s Untapped Potential (NYSE:XPO) {{!}} Seeking Alpha |url=https://seekingalpha.com/article/4580043-xpo-logistics-untapped-potential-hold |access-date=2023-03-02 |website=seekingalpha.com |language=en}}</ref> In 2022, XPO's CEO stated that the company operates in 99% of US zip codes.<ref name=":9" /> {{As of|March 2022}}, XPO produces new and re-manufactured trailers at a factory in [[Searcy, Arkansas]].<ref name=":9">{{Cite web |last=Gilroy |first=Roger |date=March 25, 2022 |title=XPO Ramps Up Trailer Production in Arkansas |url=https://www.ttnews.com/articles/xpo-ramps-trailer-production-arkansas |access-date=August 3, 2022 |website=Transport Topics}}</ref><ref>{{Cite web |last=Stocking |first=Richard |date=April 8, 2022 |title=Trucking is changing. Are you adapting? |url=https://www.ccjdigital.com/business/article/15290546/are-you-adapting-to-changes-in-the-trucking-industry |access-date=August 3, 2022 |website=Commercial Carrier Journal}}</ref>
 === European Transportation Segment ===
-XPO provides dedicated truckload, LTL, truck brokerage, managed transportation, last mile and freight forwarding in Europe. The company also manages multimodal solutions, such as road-rail and road-short sea combinations.<ref>{{Cite web |title=UNITED STATES SECURITIES AND EXCHANGE COMMISSION |url=https://investors.xpo.com/static-files/f03050b6-17b2-40dd-8768-cf3f4d483d86}}</ref> 1,000 new drivers were hired in the U.K. and Ireland in 2022.<ref>{{cite web |title=XPO hires more than 1,000 UK drivers in 2022 |url=https://www.parcelandpostaltechnologyinternational.com/news/staff-personnel/xpo-hires-more-than-1000-uk-drivers-in-2022.html |website=Parcel and Postal Technology International |access-date=14 March 2023 |date=30 November 2022}}</ref><ref>{{cite web |title=XPO hires more than 1,000 UK drivers in 2022 following salary review |url=https://www.thegrocer.co.uk/movers/xpo-hires-more-than-1000-uk-drivers-in-2022-following-salary-review/674065.article |website=The Grocer |access-date=14 March 2023 |language=en}}</ref>
+XPO provides dedicated truckload, LTL, truck [[brokerage]], managed transportation, last mile and [[freight forwarding]] in Europe.<ref>{{Cite news |last=Smith |first=Jennifer |date=2018-02-07 |title=XPO Logistics Extending Home Delivery Service to Europe |language=en-US |work=Wall Street Journal |url=https://www.wsj.com/articles/xpo-logistics-extending-home-delivery-service-to-europe-1518043189 |url-access=subscription |access-date=2023-10-31 |issn=0099-9660 |url-status=live |archive-url=https://web.archive.org/web/20201109040934/https://www.wsj.com/articles/xpo-logistics-extending-home-delivery-service-to-europe-1518043189 |archive-date= Nov 9, 2020 }}</ref> The company also manages [[Multimodal transport|multimodal]] solutions, such as road-rail and road-short sea combinations.<ref>{{Cite web |title=XPO 2022 10-K |publisher=Investors - XPO Inc.  |url=https://investors.xpo.com/static-files/f03050b6-17b2-40dd-8768-cf3f4d483d86}}</ref> 1,000 new drivers were hired in the U.K. and [[Ireland]] in 2022.<ref>{{cite web |title=XPO hires more than 1,000 UK drivers in 2022 |url=https://www.parcelandpostaltechnologyinternational.com/news/staff-personnel/xpo-hires-more-than-1000-uk-drivers-in-2022.html |first1=Elizabeth |last1=Baker |website=Parcel and Postal Technology International |access-date=14 March 2023 |date=30 November 2022}}</ref><ref>{{cite web |title=XPO hires more than 1,000 UK drivers in 2022 following salary review |url=https://www.thegrocer.co.uk/movers/xpo-hires-more-than-1000-uk-drivers-in-2022-following-salary-review/674065.article |first1= Helen |last1=Gilbert |date=30 November 2022 |website=The Grocer |access-date=14 March 2023 |language=en |url-status=live |archive-url=https://archive.today/20240425024132/https://www.thegrocer.co.uk/movers/xpo-hires-more-than-1000-uk-drivers-in-2022-following-salary-review/674065.article |archive-date=25 Apr 2024  }}</ref>
 == Controversy ==
-A 2018 article by ''[[The New York Times]]'' profiled experiences of several female employees working at a [[Memphis, Tennessee|Memphis]] warehouse operated by XPO.<ref>{{Cite web |title=XPO Gains National Notoriety for its Horrific Working Conditions. |url=https://www.memphisflyer.com/xpo-gains-national-notoriety-for-its-horrific-working-conditions |access-date=15 January 2023 |website=[[Memphis Flyer]]}}</ref><ref>{{Cite web |title=Working conditions in Memphis warehouse linked to miscarriages, NYT reports |url=https://www.commercialappeal.com/story/news/2018/10/22/memphis-xpo-logistics-verizon-miscarriages-nyt/1729659002/ |access-date=15 January 2023 |website=[[The Commercial Appeal]]}}</ref> The warehouse has no windows or [[air conditioning]], and sometimes temperatures there surpass {{convert|100|F|C|abbr=on}}. According to a police report and XPO employees, a worker died of [[cardiac arrest]] on the warehouse floor in 2017 and other workers were told to continue working. There have been several cases of [[miscarriage]], which were attributed to management's refusal to allow pregnant workers to avoid the most strenuous jobs.<ref>{{Cite web |date=31 October 2018 |title=Life and Death on the Warehouse Floor |url=https://msmagazine.com/2018/10/31/life-death-warehouse-floor/ |access-date=15 January 2023 |website=Ms. Magazine}}</ref> XPO spokesperson Erin Kurtz claimed that the ''Times'' report was unsubstantiated and filled with inaccuracies.<ref>{{Cite news |last=Silver-Greenberg |first=Jessica |last2=Kitroeff |first2=Natalie |date=2018-10-21 |title=Miscarrying at Work: The Physical Toll of Pregnancy Discrimination |language=en-US |work=The New York Times |url=https://www.nytimes.com/interactive/2018/10/21/business/pregnancy-discrimination-miscarriages.html |access-date=2021-12-06 |issn=0362-4331}}</ref>
+A 2018 article by ''[[The New York Times]]'' profiled the experiences of several employees working at a [[Memphis, Tennessee|Memphis]] warehouse operated by XPO.<ref name="nytimes">{{Cite news |last1=Silver-Greenberg |first1=Jessica |last2=Kitroeff |first2=Natalie |date=2018-10-21 |title=Miscarrying at Work: The Physical Toll of Pregnancy Discrimination |language=en-US |work=The New York Times |url=https://www.nytimes.com/interactive/2018/10/21/business/pregnancy-discrimination-miscarriages.html |access-date=2021-12-06 |issn=0362-4331}}</ref><ref>{{Cite web |title=XPO Gains National Notoriety for its Horrific Working Conditions. |url=https://www.memphisflyer.com/xpo-gains-national-notoriety-for-its-horrific-working-conditions |access-date=15 January 2023 |website=[[Memphis Flyer]]}}</ref><ref>{{Cite web |title=Working conditions in Memphis warehouse linked to miscarriages, NYT reports |url=https://www.commercialappeal.com/story/news/2018/10/22/memphis-xpo-logistics-verizon-miscarriages-nyt/1729659002/ |access-date=15 January 2023 |website=[[The Commercial Appeal]]}}</ref> The warehouse had no windows or [[air conditioning]], and sometimes temperatures there surpassed {{convert|100|F|C|abbr=on}}. The article described several cases of warehouse workers [[miscarriage|miscarrying]], which were attributed to management's refusal to allow pregnant workers to avoid strenuous jobs.<ref>{{Cite web |date=31 October 2018 |title=Life and Death on the Warehouse Floor |url=https://msmagazine.com/2018/10/31/life-death-warehouse-floor/ |access-date=15 January 2023 |website=Ms. Magazine}}</ref> According to the article and XPO employees, a worker died of [[cardiac arrest]] on the warehouse floor in 2017; employees said they were told by managers to continue working. A spokesperson for XPO called the allegations in the article "unsubstantiated, filled with inaccuracies", and claimed they were "fueled by the [[Teamsters]]".<ref name="nytimes" />
 In October 2021, XPO agreed to pay $30 million to 784 drivers who said the company paid them less than [[minimum wage]].<ref>{{Cite news |title=Port truckers win $30 million in wage theft settlements |url=https://www.latimes.com/business/story/2021-10-13/la-fi-port-trucker-xpo-settlements |last=Roosevelt |first=Margot |date=2021-10-13 |access-date=2023-07-30 |work=[[Los Angeles Times]]}}</ref><ref>{{Cite news |title=XPO settles 2 California worker classification cases for nearly $30M |url=https://www.freightwaves.com/news/xpo-settles-2-california-worker-classification-cases-for-nearly-30m |last=Kingston |first=John |date=2021-10-13 |access-date=2023-07-30 |work=FreightWaves}}</ref>
@@ Line 64: / Line 66: @@
 ==See also==
 {{portal|Companies|Connecticut}}
+* [[American Trucking Associations]]
 * [[Companies listed on the New York Stock Exchange (X)]]
 * [[Economy of Connecticut]]
+* [[Logistics companies]]
 ==References==
@@ Line 82: / Line 87: @@
 }}
+{{Navboxes|list=
 {{Trucking industry in the United States}}
 {{US logistics}}
+{{S&P 400 companies}}
+}}
 {{Authority control}}
@@ Line 89: / Line 97: @@
 [[Category:Companies based in Greenwich, Connecticut]]
 [[Category:Companies listed on the New York Stock Exchange]]
+[[Category:Companies in the S&P 400]]
 [[Category:Greenwich, Connecticut]]
 [[Category:Logistics companies of the United States]]
-[[Category:Multinational companies headquartered in the United States]]
 [[Category:Transport companies established in 1989]]
 [[Category:Transportation companies based in Connecticut]]
 [[Category:Trucking companies of the United States]]
+[[Category:Logistics companies]]
+[[Category:Trucking industry in the United States]]
+[[Category:Economy of the Eastern United States]]
+[[Category:Multinational companies headquartered in the United States]]