USA Truck has announced that it will increase per-mile pay for owner-operators as they attempt to hire “the best contractors available” in spite of the fact that the company has struggled financially so far this year.
The pay raise officially went into effect on October 1. The per mile pay has increased from $0.98 to between $1.02 to $1.35, depending on the load.
USA Truck also promised to give owner-operaters discounts on fuel as well as discounts on parts and labor at USA Truck maintenance facilities.
The announcement comes in spite of the fact that USA Truck has reported operating losses this year for the first time since the first quarter of 2014. They reported losses of $3.2 million during the first two quarters of 2016.
USA Truck has increased the use of owner-operators by 16.3% in the first two quarters of 2016 and has seen a drop of 17.7% in wage expenses.
Says USA Truck’s Martin Tewari, “Our continued success in serving our customers derives from selecting the best contractors available, which we can do by providing fair and equitable compensation. This represents a significant commitment by USA Truck to the success of our independent contractors.”
Sources:
The Journal Of Commerce
Arkansas Business