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More evidence that the economic slowdown is hitting freight transport hard: Wabash National Corp. announced March 19 it would eliminate about 500 jobs, including both hourly and salary positions, in an effort to cut costs to meet the widespread economic slowdown.

"Under the current economic environment, we feel this action is necessary as part of our continuing efforts to operate the business effectively and profitably," said Jerry Ehrlich, chairman, president and chief executive officer, in a prepared statement.

The company, which manufactures standard and customized truck trailers under the Wabash and Fruehauf trademarks, also said it would report a first-quarter loss "substantially below the range of analyst expectations."