About Labor Ready, Inc.

Another day, another blue-collar dollar. Staffing firm TrueBlue specializes in providing general laborers on short notice for short-term jobs in fields such as construction, hospitality, and transportation. The company offers general labor staffing services from more than 670 branches throughout the US, Puerto Rico, and Canada, mostly under the Labor Ready brand. Other units, operating through branches, include Spartan Staffing (light industrial temporary services), CLP Resources (skilled construction trades), and Centerline Drivers (temporary and dedicated driver placement). TrueBlue mainly serves companies residing in the services, construction, transportation, manufacturing, retail, and wholesale sectors among others.

Operations

TrueBlue operates its workforce solutions through three reportable segments: PeopleReady, PeopleManagement, and PeopleScout. PeopleReady is the firm's largest segment. It accounts for about 60% of revenue. The PeopleReady segment provides a wide range of staffing solutions for contingent on-demand and skilled labor.

PeopleManagement predominantly encompasses TrueBlue's on-site placement and management services, while PeopleScout provides outsourced recruitment for permanent employees for all major industries and jobs.

Geographic Reach

TrueBlue has a network of some 670 branches across all 50 states, Puerto Rico, and Canada, plus more than 310 on-premise locations at customer's facilities. The US generates about 95% of its total sales.

Sales and Marketing

TrueBlue's customers range from small and medium-sized businesses to Fortune 100 companies. The firm serves approximately 125,000 customers in industries including construction, energy, manufacturing, warehousing, distribution, waste, wholesale, retail, transportation, aviation, hospitality, and many more.

Sales to its ten largest customers account for about 20% of TrueBlue's revenue. One customer, Amazon represents more than 5% of the company's revenue.

TrueBlue's advertising expenses were approximately $8 million in fiscal 2016.

Financial Performance

TrueBlue has achieved extraordinary growth over the last several years, with revenues climbing to a record-setting $2.75 billion in 2016. The historic growth was primarily attributed to key acquisitions.The company also experienced organic growth across most of its geographic and industry segments.

Despite the revenue growth, TrueBlue suffered a net loss of $15.25 million in fiscal 2016, after reporting a net income of $75 million for the prior fiscal year. Increased operating expenses were the main cause of the net loss. Even with the net loss, TrueBlue's operating cash jumped from $72 million to $261 million by the end of fiscal 2016.

Strategy

TrueBlue continues to evaluate opportunities to expand its market presence for staffing services. It achieves this by adding new physical locations and expanding existing locations to provide its full range of blue-collar staffing services.

The firm plans to continue to invest in technology that increases its ability to attract more customers and employees while reducing the cost of delivering services. TrueBlue expects to make significant investments in online and mobile applications to improve the access, speed, and ease of connecting its customers with employees.

Mergers and Acquisitions

TrueBlue has used acquisitions to generate milestone revenues and to diversify its mix of services, particularly in the light industrial and skilled labor staffing sectors. In 2016 it acquired the recruitment process outsourcing (RPO) business of Aon Hewitt for a cash purchase price of $72.0 million. The deal enhanced its PeopleScout's (which it inherited through its Seaton acquisition in 2014) operations, making it a major global RPO provider with more than $150 million in annual revenue and 300,000 annual full-time placements.

In 2015 TrueBlue acquired workforce efficiency specialist SIMOS Insourcing Solutions, expanding its workforce management group to deliver even more powerful talent services. In 2014 the company grew significantly through the purchase of staffing service provider Seaton. The deal included Seaton's PeopleScout, Staff Management SMX, HRX, and StudentScout service lines.

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Labor Ready, Inc.

1015 A St Unit A
Tacoma, WA 98402-5122
Phone: 1 (253) 680-8487
Fax: 1 (253) 383-9311

Stats

  • Employer Type: Public
  • Vice President: James Defebaugh
  • Director of BI: Lisa Linke
  • Vice President: Billie R Otto
  • Employees: 921

Major Office Locations

  • Tacoma, WA

Other Locations

  • Dothan, AL
  • Fayetteville, AR
  • Bullhead City, AZ
  • Gilbert, AZ
  • Glendale, AZ
  • Goodyear, AZ
  • Phoenix, AZ
  • Tempe, AZ
  • Tucson, AZ
  • Bakersfield, CA
  • Bellflower, CA
  • Chula Vista, CA
  • City Of Industry, CA
  • Commerce, CA
  • Compton, CA
  • Concord, CA
  • Corona, CA
  • Costa Mesa, CA
  • El Cajon, CA
  • El Centro, CA
  • Elk Grove, CA
  • Escondido, CA
  • Fairfield, CA
  • Fresno, CA
  • Fullerton, CA
  • Hayward, CA
  • Inglewood, CA
  • Long Beach, CA
  • Los Angeles, CA
  • Mission Viejo, CA
  • Modesto, CA
  • Newhall, CA
  • North Hills, CA
  • North Hollywood, CA
  • Oceanside, CA
  • Palm Desert, CA
  • Palmdale, CA
  • Pasadena, CA
  • Redding, CA
  • Redwood City, CA
  • Sacramento, CA
  • Salinas, CA
  • San Bernardino, CA
  • San Diego, CA
  • San Francisco, CA
  • San Jose, CA
  • Santa Ana, CA
  • Santa Barbara, CA
  • Santa Maria, CA
  • Santa Rosa, CA
  • Simi Valley, CA
  • Soquel, CA
  • South Gate, CA
  • South San Francisco, CA
  • Stockton, CA
  • Temecula, CA
  • Torrance, CA
  • Turlock, CA
  • Upland, CA
  • Ventura, CA
  • Visalia, CA
  • Woodland Hills, CA
  • Yuba City, CA
  • Aurora, CO
  • Colorado Springs, CO
  • Denver, CO
  • Fort Collins, CO
  • Grand Junction, CO
  • Greeley, CO
  • Longmont, CO
  • Pueblo, CO
  • Thornton, CO
  • Westminster, CO
  • Doral, FL
  • Atlanta, GA
  • Griffith, IN
  • Wichita, KS
  • Albuquerque, NM
  • Las Cruces, NM
  • Las Vegas, NV
  • Schenectady, NY
  • Bethany, OK
  • Lawton, OK
  • Norman, OK
  • Oklahoma City, OK
  • Abilene, TX
  • Amarillo, TX
  • Austin, TX
  • Brownsville, TX
  • Bryan, TX
  • Dallas, TX
  • Del Rio, TX
  • Denton, TX
  • Duncanville, TX
  • El Paso, TX
  • Forest Hill, TX
  • Fort Worth, TX
  • Grand Prairie, TX
  • Houston, TX
  • Killeen, TX
  • Laredo, TX
  • Longview, TX
  • Lubbock, TX
  • Mcallen, TX
  • Mesquite, TX
  • Midland, TX
  • Plano, TX
  • San Angelo, TX
  • San Antonio, TX
  • Sherman, TX
  • Texas City, TX
  • Tyler, TX
  • Victoria, TX
  • Waco, TX
  • Wichita Falls, TX
  • Ogden, UT
  • Provo, UT
  • Salt Lake City, UT
  • Sandy, UT
  • St George, UT
  • West Valley City, UT
  • Petersburg, VA
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