FedEx Layoffs 1,000 salaried managers and professionals

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  1. #1
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    FedEx Layoffs 1,000 salaried managers and professionals

    Memphis Daily News - FedEx Layoffs Hit Memphis HQ Hard

    Half of thousand jobs cut in Memphis
    Print | Front Page | Email this story | Email reporter

    ANDY MEEK | The Daily News
    Memphis-based FedEx Corp. laid off 1,000 salaried managers and professionals across its global work force Friday, a day that a FedEx spokesman described as painful and one “we thought we could avoid.”

    Five hundred of those layoffs occurred in the Memphis area, where the package and shipping giant employed about 33,000 people before the cuts. FedEx’s worldwide employee roster totals about 290,000.

    “This is a very difficult day for FedEx and for our colleagues,” said FedEx spokesman Maury Lane on word of the layoffs. “We’ve done everything we could since December to try to avoid this situation.”

    Back in December is when FedEx announced pay cuts of 5 percent for all of its salaried personnel in the U.S., even deeper cuts for senior executives, the scrapping of some bonuses and a freeze on 401(k) contributions. FedEx unveiled the scope of the 1,000 job cuts last month on word that the company’s fiscal third quarter earnings were lower than expected......more

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    And which companies will lay-off next? Big, medium, and small companies.

    Consumer is waaaaay down because people are trying to save any dollar they can in case they get the axe.

    Thanks for the FYI, Min0.
    It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.

    -- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.

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    Thanks for replying twice, Smoothy.
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    Quote Originally Posted by Big Smoothy View Post
    And which companies will lay-off next? Big, medium, and small companies.

    Consumer is waaaaay down because people are trying to save any dollar they can in case they get the axe.

    Thanks for the FYI, Min0.
    There is a lot of fat in the middle management positions, now I can see them cutting them but not the actual delivery men who make the company.

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    ^ Yes, Min0, there will be more fat trimming at FedEx and many other places.

    Apologies for the multiple posts.....computers....
    It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.

    -- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.

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