TrueBlue, Inc. (TBI): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how companies connect people with the right jobs? TrueBlue Inc. (TBI), a leading provider of specialized workforce solutions, has been doing just that for over 30 years, connecting approximately 464,000 people to work in 2023. But how did they get here, who owns them, and what's their secret to making money? Keep reading to discover how TrueBlue's mission to connect people and work translates into a $1.6 billion revenue stream in 2024 and how they plan to capture more market share in the years to come.

TrueBlue, Inc. (TBI) History

TrueBlue, Inc.'s Founding Timeline

Year established

TrueBlue, Inc. was established in 1989.

Original location

The company was originally located in Tacoma, Washington.

Founding team members

The founding team members included Glenn Landau and Dayton Ogden.

Initial capital/funding

Initially, the company was founded with approximately $60,000 in capital.

TrueBlue, Inc.'s Evolution Milestones

TrueBlue, Inc.'s Transformative Moments

• Strategic Diversification: TrueBlue's shift from primarily focusing on temporary labor to incorporating skilled trades and professional services marked a significant transformation. This diversification allowed the company to tap into different market segments and reduce reliance on a single type of service.
• Technological Integration: Embracing digital platforms and technologies to streamline staffing processes and enhance service delivery has been crucial. Investments in technology have improved efficiency, candidate matching, and client satisfaction.
• Focus on Specialized Solutions: The company's emphasis on providing specialized staffing solutions tailored to specific industries and client needs has set it apart from competitors. This approach allows for deeper client relationships and more effective workforce management.
• Acquisition Strategy: Strategic acquisitions have played a pivotal role in TrueBlue’s growth. By acquiring companies like CLP Resources, Spartan Staffing, SIMOS Insourcing Solutions and PeopleScout, TrueBlue has expanded its service offerings, market reach, and capabilities, driving significant growth and market leadership.

To gain more insight into TrueBlue's guiding principles, explore: Mission Statement, Vision, & Core Values of TrueBlue, Inc. (TBI).

TrueBlue, Inc. (TBI) Ownership Structure

TrueBlue, Inc. features a mix of institutional, retail, and insider ownership, reflecting a diverse investor base that influences its corporate governance and strategic direction. For more insights into TrueBlue, Inc.'s investors, check out: Exploring TrueBlue, Inc. (TBI) Investor Profile: Who’s Buying and Why?

TrueBlue, Inc.'s Current Status

TrueBlue, Inc. is a publicly traded company, meaning its shares are available for purchase on the open market, allowing a wide range of investors to participate in the company's ownership and financial performance.

TrueBlue, Inc.'s Ownership Breakdown

As of April 2025, the ownership of TrueBlue, Inc. is distributed among various shareholders. The following table provides a detailed breakdown:

TrueBlue, Inc.'s Leadership

The leadership team at TrueBlue, Inc. is responsible for guiding the company's strategic direction and operational execution. Key members include:

• Taryn Owen: President and Chief Executive Officer
• Deron Brown: Chief Operating Officer
• Steven M. Cooper: Chief Financial Officer
• Andrea Brogger: President, PeopleReady

These individuals, along with other members of the executive team, bring a wealth of experience and expertise to TrueBlue, Inc., overseeing various aspects of the company's operations and strategic initiatives.

TrueBlue, Inc. (TBI) Mission and Values

TrueBlue's mission is to create economic opportunity for people and businesses by connecting them with work. The company values integrity, respect, and a commitment to safety and compliance.

TrueBlue's Core Purpose

Official mission statement

TrueBlue's official mission statement is: Connecting People and Work^®. This reflects the company's dedication to bridging the gap between workers and employers, facilitating economic growth and individual prosperity.

• Connect people with work.
• Provide workforce solutions to businesses.
• Focus on integrity, safety, and compliance.

Vision statement

TrueBlue's vision is to be the talent solution for the changing world of work. This encompasses adapting to evolving workforce needs and providing innovative solutions to meet those demands.

• Adapt to the changing world of work.
• Provide innovative talent solutions.
• Focus on being a leader in the industry.

Company slogan/tagline

TrueBlue's tagline, Connecting People and Work^®, succinctly captures the essence of the company's core function and its commitment to facilitating employment opportunities.

• Connecting People and Work^®
• Emphasizes the core business of connecting workers with jobs.
• Reflects the company's overarching goal and purpose.

For more detailed information, you can visit: Mission Statement, Vision, & Core Values of TrueBlue, Inc. (TBI).

TrueBlue, Inc. (TBI) How It Works

TrueBlue connects people with work, focusing on providing workforce solutions to businesses, primarily in the industrial, retail, and service sectors.

TrueBlue, Inc.'s Product/Service Portfolio

TrueBlue, Inc.'s Operational Framework

TrueBlue operates through a network of branches and on-site locations, supported by digital platforms that facilitate the matching of workers with jobs. The company's operational framework involves:

• Demand Generation: Sales teams and marketing efforts focus on attracting clients who need staffing solutions.
• Worker Recruitment and Screening: TrueBlue recruits workers through various channels, screens them, and ensures they meet the necessary qualifications and safety standards.
• Job Matching: Using technology and local branch knowledge, TrueBlue matches workers with appropriate job openings.
• Employment and Payroll: TrueBlue employs the workers, manages their payroll, and handles all related employment responsibilities.
• Performance Management: TrueBlue monitors worker performance and provides support to ensure client satisfaction.

TrueBlue, Inc.'s Strategic Advantages

TrueBlue's strategic advantages include:

• Scale and Geographic Reach: With a large network of branches and a presence across North America, TrueBlue can serve a wide range of clients and provide staffing solutions in diverse geographic locations.
• Diversified Service Offerings: TrueBlue offers a range of services, including temporary staffing, permanent placement, and outsourcing, which allows it to meet the diverse needs of its clients.
• Technology-Enabled Solutions: TrueBlue uses technology to improve the efficiency and effectiveness of its operations, including online job boards, mobile apps, and data analytics.
• Industry Expertise: TrueBlue has deep expertise in the industries it serves, which allows it to understand the specific needs of its clients and provide tailored solutions.

For more in-depth information, you can check out Mission Statement, Vision, & Core Values of TrueBlue, Inc. (TBI).

TrueBlue, Inc. (TBI) How It Makes Money

TrueBlue, Inc. primarily generates revenue by connecting people with work through its staffing and recruiting solutions.

TrueBlue, Inc.'s Revenue Breakdown

TrueBlue, Inc. operates through three main segments:

TrueBlue, Inc.'s Business Economics

• Pricing Strategy: TrueBlue's pricing varies based on the segment. PeopleReady focuses on high-volume, low-margin transactions, while PeopleScout concentrates on higher-margin, specialized placements. PeopleManagement's pricing is based on long-term contract agreements providing workforce management solutions.
• Economic Sensitivity: The company's performance is closely tied to overall economic conditions. Economic downturns typically lead to decreased demand for staffing services, impacting revenue.
• Competitive Landscape: The staffing industry is highly competitive. TrueBlue competes with national and regional staffing firms, as well as direct hiring efforts by companies.
• Cost Structure: Major costs include payroll for temporary workers, compensation for internal staff, and administrative expenses. Efficiency in managing these costs is crucial for profitability.

TrueBlue, Inc.'s Financial Performance

• In fiscal year 2024, TrueBlue reported revenue of approximately $2.1 billion.
• Gross profit margin stood at around 25%, reflecting the cost of services provided.
• Operating income was approximately $50 million, influenced by administrative and selling expenses.
• Net income for 2024 was approximately $20 million.
• The company maintains a healthy balance sheet with a mix of cash, receivables, and debt.
• Key financial metrics include revenue growth, gross margin, operating margin, and return on equity, which are closely monitored by investors.

For more information about TrueBlue, Inc., you might be interested in:

Mission Statement, Vision, & Core Values of TrueBlue, Inc. (TBI).

TrueBlue, Inc. (TBI) Market Position & Future Outlook

As of April 2025, TrueBlue, Inc. navigates a dynamic market landscape, striving to solidify its position as a leading provider of specialized workforce solutions. The company's future hinges on capitalizing on emerging opportunities while effectively mitigating potential risks. For more in-depth insights, check out: Exploring TrueBlue, Inc. (TBI) Investor Profile: Who’s Buying and Why?

Competitive Landscape

Note: Market share percentages are estimates based on available industry reports and may vary. The market is fragmented, with numerous regional and specialized players also holding significant shares.

Opportunities & Challenges

Industry Position

TrueBlue, Inc. operates within the highly competitive staffing and workforce solutions industry. The company distinguishes itself through:

• A focus on specialized staffing, catering to specific industries and skill sets.
• A network of branch locations and on-site partnerships, providing localized service and support.
• Technology investments aimed at improving recruitment processes and client engagement.

TrueBlue's standing in the industry is influenced by its ability to adapt to changing market conditions, leverage technology, and maintain strong relationships with both clients and employees.