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Fedex to cut thousands from workforce

Posted by on Oct. 11, 2012 at 5:31 AM
  • 5 Replies


AFP - Fedex, the global delivery company, said Wednesday it was planning to cut "several thousand" people from its workforce via a voluntary departure program beginning early next year.

Company chairman Fred Smith said at an investment conference in Memphis, Tennessee, that the cuts would come in the company's Fedex Express global express delivery service, and in the US unit, Fedex Services.

The cuts are part of a plan to boost profits by $1.7 billion by 2016, mainly through intensified cost reductions.

They also come in the wake of the company's warnings that its business is being hit by the global economic slowdown.

The company gave no specific number on the staff reductions, but emphasized they would be voluntary.

"Our overall strategy is closely tied to effective yield management," Smith said in a statement ahead of the conference.

"The key is striking the right balance between volume growth and yield improvements. With slow economic growth, however, the cost reduction programs... are also essential to achieve our financial goals."

source

by on Oct. 11, 2012 at 5:31 AM
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Replies (1-5):
JoshRachelsMAMA
by JRM on Oct. 11, 2012 at 6:02 AM
1 mom liked this
If he gets re-elected, I expect to see even more of these types of things.
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_Kissy_
by on Oct. 11, 2012 at 6:14 AM
Profits before people.
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JoshRachelsMAMA
by JRM on Oct. 11, 2012 at 6:35 AM
Yes because companies are in the charity business, right?

Quoting _Kissy_:

Profits before people.
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candlegal
by Judy on Oct. 11, 2012 at 6:35 AM
1 mom liked this

starting with military contractors since they are delaying sending out pink slips until after the election.  Where are the jobs Mr. President?

Quoting JoshRachelsMAMA:

If he gets re-elected, I expect to see even more of these types of things.


candlegal
by Judy on Oct. 11, 2012 at 6:36 AM

If there are no profits, there will be no people.

Quoting _Kissy_:

Profits before people.


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