Schneider Announces Driver Pay Increase to Begin in 2021

Rhea-AI Summary

Schneider (NYSE: SNDR) announced a driver pay increase effective January 24, with many drivers set to earn an additional $0.04 per mile. This increase underscores Schneider's commitment to rewarding its driver associates for their dedication. The company has previously implemented various enhancements, including six paid holidays and a speed adjustment for trucks. Schneider continues to focus on investments in driver productivity and safety. With nearly $5 billion in annual revenue, Schneider aims to improve driver careers and deliver exceptional customer service.

Positive

• Driver pay increase of up to $0.04 per mile effective January 24.
• Previous enhancements include six paid holidays and an increase in truck speed from 63 to 65 MPH.
• Investment in equipment, technology, and facilities focused on driver productivity and safety.
• A strong revenue base of nearly $5 billion annually, reflecting business stability and growth.

Negative

• None.

Schneider (NYSE: SNDR), a premier provider of trucking, intermodal and logistics services, announced it is implementing a driver pay increase next month.

This is the company’s latest pay increase for driver associates across both Schneider’s solo and team fleets. Many Schneider driver associates will earn up to an additional $.04 per mile effective January 24.

“We are committed to rewarding company drivers for the safe and professional work they do to excite our customers,” said Dave Geyer, EVP and Group President of Transportation and Logistics at Schneider. “Our focus is on making Schneider driving careers the best in the industry. Pay is certainly a component, among many other areas that we are continually upgrading.”

The latest round of pay increases at Schneider is in addition to many significant improvements the company made in 2020 to put more money in drivers’ pockets while also improving their work experience:

• Added six paid holidays per year
• Adjusted truck speed from 63 to 65 MPH
• Implemented Weekly Guarantee Pay program for inexperienced drivers

Further investments in equipment, technology and facilities focused on driver productivity, comfort and safety will continue.

“We are proud of the incredible performance of our drivers every day, but especially during the extraordinary conditions of 2020,” said Geyer. “This performance is creating opportunities to grow with customers while providing more opportunities for drivers and our company. Ultimately, it’s this service that our customers value the most, and we are rewarding the drivers who provide excellent customer service.”

Schneider will continue weekly onboarding for experienced and new CDL drivers through the holiday season as well as reserving spots into January. Drivers interested in working for a company that respects and rewards safe, professional work can visit SchneiderJobs.com.

About Schneider

Schneider is a premier provider of transportation and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting.

With nearly $5 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 80 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.

For more information about Schneider, visit Schneider.com or follow the company socially on LinkedIn and Twitter: @WeAreSchneider.

Source: Schneider SNDR

View source version on businesswire.com: https://www.businesswire.com/news/home/20201216006009/en/

FAQ

What is the new driver pay rate for Schneider (SNDR) starting January 24?

Drivers at Schneider will receive an increase of up to $0.04 per mile starting January 24.

When did Schneider last increase driver pay?

The recent pay increase at Schneider is effective January 24, occurring as part of the company's ongoing commitment to its drivers.

How much revenue does Schneider (SNDR) generate annually?

Schneider generates nearly $5 billion in annual revenue.

What improvements has Schneider made for its drivers in the past?

Improvements include adding six paid holidays, adjusting truck speeds, and implementing a Weekly Guarantee Pay program for inexperienced drivers.