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FEDEX to cut thousands from workforce

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.

Read more: http://www.france24.com/en/20121010-fedex-cut-thousands-work...

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I'm really surprised

with the increasing use of online retailing like Amazon where delivery/shipping companies would greatly benefit I can believe they would reduce the workforce. the economy must be really slowing to have this result

It's their right to do this but I wonder how big the bonuses

will be for the top dog turds.

That's a lot of money. 400 million per year. They'll need it when the economy goes ballistic finally and nobody ships a damn thing because they can't afford it.

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I worked at FEDEX until last Oct

They are very good to employees. Good wages, benefits, money for school, etc. I recommend them to anyone as a good place to work.

Their business should be booming with all the free adverstising

by all us End the Fed'rs saying "The Federal Reserve is no more "Federal" than Federal Express! lol