Half of thousand jobs cut in Memphis
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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