ArcBest (ARCB) has implemented a simplified brand structure and organizational changes to enhance operational efficiency, customer experience, long-term growth and profitability, the company said late Thursday.

MoLo Solutions, Panther Premium Logistics and ArcBest Technologies will operate under the ArcBest brand, effective Aug. 1, while the ABF Freight brand will continue to carry the company's less-than-truckload carrier, ArcBest said.

The company said it is streamlining the organizational structure by reducing 2% of total positions through workforce eliminations and removing certain open positions, as well as the consolidation of select service centers representing about 1% of the company's network doors.

The company expects these measures to generate annualized cost savings of about $40 million.