FedEx to offer US staff buyouts in cost cut effort

[R-14Driver]

NEW YORK (AP) -- FedEx will soon begin offering buyouts to U.S. employees in an effort to cut costs in the face of a weakening global economy.

The world's second largest package delivery company hinted at cutbacks earlier this summer when it said that slowing economic growth would crimp its earnings well into next year. It has already removed some aircraft from its fleet of more than 600 to account for a loss of demand.

While FedEx hasn't yet decided how many positions will be eliminated, it will likely focus on slow-growth areas like its Express and Services units.

Express is where FedEx got its start in 1971, and it's still the company's biggest segment by far. The speedy shipping division, which moves 3.5 million packages on an average day, has been hit hard as people shift to slower delivery methods to conserve cash. The unit is also being dragged down slowing Asian growth and a reduction in demand for Asian goods from the U.S. and Europe. The unit reported revenue of $26.5 billion in the latest fiscal year and has more than 146,000 employees worldwide — 102,000 of those in the U.S. .....................

FedEx to offer US staff buyouts in cost cut effort - Yahoo! Finance

[R-14Driver]

[outkast1969]

Oooo noooo

[Slackdragon]

Show me the MONEY !!!

[leemcabee]

Show me the money then point me towards the door!

[SMOKESTACK]

I think we will be hearing allot of this....

[triplethreat]

This announcement should put the Vitran rumors to rest

[princess]

Here we go again.....

[rodedawg]

This announcement should put the Vitran rumors to rest

They're going to offer express people buyouts so freight can buy Vitran.

[Freightmaster1]

Fed Ex employees in these "back end" jobs might have to worry?! Does this tie-in with the "Realignment" rumors elsewhere on this forum? Just wondering!

FedEx to downsize workforce in Express and Services divisions | Post & Parcel