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FedEx Freight | CEO Raj Subramaniam in a letter to staff.

SMOKESTACK

SMOKESTACK

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nasvegas

nasvegas

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SMOKESTACK said:
The CEO said today's cuts, along with some consolidation of teams within the company, are intended to ensure the company remains competitive and agile.
Layoffs are across the entire company, and bring the cuts from the operations to the office.
www.businessinsider.com

FedEx is laying off more than 10% of top managers in a cost-cutting crusade. Read the full memo from the CEO.

The company has more than half a million employees, but exact the number of layoffs was not specified.
www.businessinsider.com www.businessinsider.com
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Maybe they should do a survey... I got a few people in mind....
 
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No F-bdy Bs

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Redundant, fluff jobs that shouldn't have been created to begin with. A lot of positions were created during, and post covid that were expected to be necessary, but were found to be irrelevant once the world moved on.

EVERY tech company is cutting, and FX is cutting a lot of it's tech, and cubicle jobs.
 
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Talkischeap

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No F-bdy Bs said:
Redundant, fluff jobs that shouldn't have been created to begin with. A lot of positions were created during, and post covid that were expected to be necessary, but were found to be irrelevant once the world moved on.

EVERY tech company is cutting, and FX is cutting a lot of it's tech, and cubicle jobs.
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However you view it someone still lost their job today and do not wish that on anyone. I don't think it is about reducing "fluff jobs"... It is to keep the stock from tanking and merely to satisfy investors that costs are being cut... more knee jerk reactions. From a Freight optic... SCM's losing jobs and consolidation of centers under 1 SCM is going to be difficult to manage long term. You have the Freight CEO rolling under Ground CEO now... should be writing on the wall for a lot of folks. More changes I assume are coming and it won't be just fluff... it will be real people and real families impacted.
 
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Talkischeap

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Streaker69 said:
I wouldn't be surprised if that was the plan all along. Things may not be as knee jerk or as short sighted as they seem.
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I argue if the economy had not changed after Oct this would not be a conversation today. It is not about making right decisions or backing the people that gave this company success it is about ensuring the stock price is not impacted. Ups and downs / highs and lows... More to come
 
White

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Talkischeap said:
I argue if the economy had not changed after Oct this would not be a conversation today. It is not about making right decisions or backing the people that gave this company success it is about ensuring the stock price is not impacted. Ups and downs / highs and lows... More to come
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Unfortunately, today’s economic world revolves around the smoke & mirrors of publicly traded companies. Not saying FDX is a house of cards by any means. The original concept of shareholders has been twisted into a system mainly benefiting those in the game. We take our 401 ups & downs as we haven’t the time to be investors. Fund managers & upper echelon management are the only ones making money.
 
SMOKESTACK

SMOKESTACK

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I own stock in the company FDX , just curious none of you do ?
Mine was all AF stock then converted , sold some , kept some for
the grandkids . A proxy vote still gives you a voice , a voice you
don't have at home (your barn) . Why do you all think stockholders
hate on the drivers ? I think it's the redundant overpaid management
or should I say mismanagement ? Whatever it's only a small part of
our portfolio and it was just beer money in the Old AF days . Us hands
could point out wasted funds like my safety guy who was completely
useless and would spend the day smoking and talking on the phone
so the jag could tell you that ya are a very good driver . How about you
stick that in your a$$ with what we paid you today Dick Safety ....

Just saying / SMOKESTACK - :soapbox: <antibacterial
 
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