Waste Management is set to eliminate 5,000 jobs over the next year as the company increases its reliance on automation and technology to replace difficult-to-hire roles. The decision to not fill vacant positions is part of Waste Management’s plan to save $450 million, which will be reinvested in energy plants and returned to shareholders as profit. Additionally, the company plans to invest half a billion dollars in artificial intelligence and improved logistics in the coming years.
While the job cuts are significant, Waste Management CEO Jim Fish clarified that the positions being eliminated have a high turnover rate, meaning they are being removed through attrition rather than layoffs. Roles at the back of the truck specifically have a turnover rate of up to 50%.
Despite the job cuts, Waste Management reported a 13% revenue increase in the fourth quarter of 2024, reaching $5.89 billion. The company attributes its success to recent acquisitions, such as the acquisition of Stericycle for over $7 billion, which has opened up new opportunities.
Currently, Waste Management employs approximately 48,000 full-time workers globally. While it’s unclear which specific roles will be affected by the job cuts, speculation suggests that trucking positions and roles at recycling plants will be primarily impacted by automation and technology. This move represents Waste Management’s commitment to innovation and cost-cutting measures in the waste management industry.
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