What's new

FedEx Freight | FedEx Profit Dives 75 Percent

Jeff

Jeff

Looking for Trolls
Administrator
Super Administrator
Credits
626
FedEx Profit Dives 75 Percent | Journal of Commerce

Carrier plans to slash capacity, cut more jobs in response to recession


FedEx earnings plunged in the company’s fiscal third quarter as a result of the global recession. The Memphis, Tenn.-based carrier said it would slash capacity and employment rolls to reduce costs and weather the downturn for the long term.
FedEx earned $97 million in the quarter ending Feb. 28, down 75 percent from $393 million a year earlier. Revenue dropped 14 percent to $8.1 billion from $9.4 billion.
 
How Much More...

Its not good when stable bench marks of our industry are bleeding as badly as FedEx. Though I have no dought that they will survive, its unfortunate the lives of the employes that will be effected in the name of ensuring this companies profitability. :holysheep:

P.S "Obama Who?" :loser:
 
Jeff said:
FedEx Profit Dives 75 Percent | Journal of Commerce

Carrier plans to slash capacity, cut more jobs in response to recession


FedEx earnings plunged in the company’s fiscal third quarter as a result of the global recession. The Memphis, Tenn.-based carrier said it would slash capacity and employment rolls to reduce costs and weather the downturn for the long term.
FedEx earned $97 million in the quarter ending Feb. 28, down 75 percent from $393 million a year earlier. Revenue dropped 14 percent to $8.1 billion from $9.4 billion.
Click to expand...

go to www.news.van.fedex.com then click march 19 about third quarter earnings.
 
Cube King said:
Its not good when stable bench marks of our industry are bleeding as badly as FedEx. Though I have no dought that they will survive, its unfortunate the lives of the employes that will be effected in the name of ensuring this companies profitability. :holysheep:

P.S "Obama Who?" :loser:
Click to expand...


Burack Obama Binlodin
 
Silent trucker said:
Not as much as our competitors are hurting themselves by slashing rates to try and keep their trucks full! It doesn't do any good to have trucks full of freight that doesn't pay for the fuel!!!

ST
Click to expand...

At local 600 union meeting the president of the local said he had a copy of a letter the fedex sales people were giving to yellow's customers offering a 96% discount to drop yellow and to ship with fedex.
I was seeing you guys pull emptys a lot also.

You know you got some of yellow's customers this could account for some of the profit loss and it is a real bad environent for bussiness.
 
Cube King said:
Its not good when stable bench marks of our industry are bleeding as badly as FedEx. Though I have no dought that they will survive, its unfortunate the lives of the employes that will be effected in the name of ensuring this companies profitability. :holysheep:

P.S "Obama Who?" :loser:
Click to expand...

Without maintaining profitability many more lives would be negatively effected.
 
Maybe they will go out of business NOT!!! FedEX is going to be around forever. I just hope some of the other bigger companys can hang in there and things start swinging up so we can start getting some of these jobs back. This is about as bad as I've ever seen things in over twenty years. I don't like seeing anybody out of work.
 
I've been around since '79, I have seen worse. On a personal level, no I don't like to see people lose their jobs and livelyhood. On a business level, I do like the loss of capacity happening. It makes my future brighter and even more prosperous.
 
12pack said:
At local 600 union meeting the president of the local said he had a copy of a letter the fedex sales people were giving to yellow's customers offering a 96% discount to drop yellow and to ship with fedex.
I was seeing you guys pull emptys a lot also.

You know you got some of yellow's customers this could account for some of the profit loss and it is a real bad environent for bussiness.
Click to expand...

First and foremost...you can't mention the "U" in this forum...secondly, do you really believe FedEx, with a reputation for being the most expensive carrier in the business, offered to undercut Yellow's rates? Give me a break! The only carrier cheaper than YRC is Con-way...then you go down to Jetro's pickup and delivery with one tooth in the wind!

:biglaugh::biglaugh:
 
Silent trucker said:
First and foremost...you can't mention the "U" in this forum...secondly, do you really believe FedEx, with a reputation for being the most expensive carrier in the business, offered to undercut Yellow's rates? Give me a break! The only carrier cheaper than YRC is Con-way...then you go down to Jetro's pickup and delivery with one tooth in the wind!

:biglaugh::biglaugh:
Click to expand...

What "U" are you talking about? "THE University of OHIO" or the Union? Are any of the aforementioned words banned from this part of the forum? If it is that is ridiculous. Well I can see banning the school from Ohio if you are a Michigan fan but other than that I can't believe the UNION would be banned from a thread about Fed Ex when the employees have the UNION to thank for the pay scale that Fed Ex employees enjoy. If you ask why, then you just don't understand.

With that said it is definitely bad for our industry to see this happen to Fed Ex. Losing 75% of your profits is a huge loss even if you are not in the red at the end of the quarter. Anyone who can not see that is drinking way too much of the company served kool-aid. No matter how you slice it that means major job cuts because companies do not live pay check to pay check. They must make major profits to grow and continue to do business.

Freight is in a terrible recession and I am glad that I left it over 10 years ago. Good luck to all of you that this effects.
 
Libertad said:
What "U" are you talking about? "THE University of OHIO" or the Union? Are any of the aforementioned words banned from this part of the forum? If it is that is ridiculous. Well I can see banning the school from Ohio if you are a Michigan fan but other than that I can't believe the UNION would be banned from a thread about Fed Ex when the employees have the UNION to thank for the pay scale that Fed Ex employees enjoy. If you ask why, then you just don't understand.

With that said it is definitely bad for our industry to see this happen to Fed Ex. Losing 75% of your profits is a huge loss even if you are not in the red at the end of the quarter. Anyone who can not see that is drinking way too much of the company served kool-aid. No matter how you slice it that means major job cuts because companies do not live pay check to pay check. They must make major profits to grow and continue to do business.

Freight is in a terrible recession and I am glad that I left it over 10 years ago. Good luck to all of you that this effects.
Click to expand...


Do you have a calender on your wall? What year does it read? Mine says March 2009...your post indicates that yours says March 1880. Good for youse, youse only 130 yearse behind das times...Fredo, where are youse, bring da horses around...where's the olive oil???

ST:loser:
 
Silent trucker said:
Do you have a calender on your wall? What year does it read? Mine says March 2009...your post indicates that yours says March 1880. Good for youse, youse only 130 yearse behind das times...Fredo, where are youse, bring da horses around...where's the olive oil???

ST:loser:
Click to expand...

You are hilarious! :biglaugh: Typical response of someone who has no idea what they are talking about. Instead of having a mature debate they respond with a bad attempt at sarcasm. Why because they try to sensor what someone says and then when called on the carpet they have no where else to go. You could have at least responded to what I wrote instead of leaving your statement open ended.

Have a nice day their Silent Trucker. By the way your name fits you perfect.
 
Libertad said:
You are hilarious! :biglaugh: Typical response of someone who has no idea what they are talking about. Instead of having a mature debate they respond with a bad attempt at sarcasm. Why because they try to sensor what someone says and then when called on the carpet they have no where else to go. You could have at least responded to what I wrote instead of leaving your statement open ended.

Have a nice day their Silent Trucker. By the way your name fits you perfect.
Click to expand...

A mature debate? You couldn't handle it! You run to the "U". Where does personal responsibility come in? OOOPs, Jesus Obama says we're all victims! Someone else is at fault for our situation! If only we could be saved by socialism/unionism/communism because we can't succeed without help!

Get real; you are your own worst enemy! Get off your *** and work!

ST
 
You must log in or register to reply here.
Top