A Billion More To Come.

[bbsam]

From the new Mexico bloodbath a few years ago FDX was held liable for the larger percentage of the award which in total was something like 65 million. The contractor was held liable for a smaller percentage but he was smart. Immediately dissolved his corporation then reorganized under a different name.

What you suggest is not a lightning fast brilliant move by the contractor. Be literally could have that done in three days if not sooner.

 

[fedx]

In his comments following the earnings release Raj said that another billion dollars in cost cutting is coming. Said something about having it all in place by next September. Wasn't specific about the areas from which those cost cuts will be extracted. Any of you guys want to thrown in your best guess?

So while they are cutting costs, they score some big government contract:

FedEx roundup: Delivery services giant scores big U.S. government contract, tests e-carts in NYC

U.S. Transportation Command — part of the U.S. Department of Defense — has awarded FedEx, UPS, and Polar Air Cargo firm fixed-price rates contracts that have an estimated total value of $2.24 billion.

finance.yahoo.com

 

[59 Dano]

I’d start by cutting the white collar jobs, like dano.

If they've got a VBO offer, I'm all ears!

 

[59 Dano]

It’s not available , no one stays or wants to work at ground.

I thought the complaint about Express was that no one stays or wants to work there.

 

[59 Dano]

I’d really love to know how his position does anything to help the operation.

It allows me to live rent free in your head.

 

[FedexCares]

Whenever a company starts taking about billions of cost-cutting in a non union company it’s guaranteed to be bad for labor. I expect hits in pay, benefits, and everything else under the sun.

I think their long term gamble like most have been saying on this site it to run a predominantly ground model with drivers making McDonald’s wages and no benefits.

If I didn’t currently have a position where I get to work 100% remotely I would be bailing ASAP.

 

[fedx]

Whenever a company starts taking about billions of cost-cutting in a non union company it’s guaranteed to be bad for labor. I expect hits in pay, benefits, and everything else under the sun.

I think their long term gamble like most have been saying on this site it to run a predominantly ground model with drivers making McDonald’s wages and no benefits.

If I didn’t currently have a position where I get to work 100% remotely I would be bailing ASAP.

Unless you're GoneFishing. He thinks FedEx is going to merge everyone into Express and going to make them union employees like UPS. lol

 

[!Retired!]

The truck still said FedEx on the side of it. They will get drug into it.

They already are

 

[Gone fishin]

Unless you're GoneFishing. He thinks FedEx is going to merge everyone into Express and going to make them union employees like UPS. lol

No one said union but you. Im just stating the common sense way of rebuilding. That sure doesn’t mean they’ll do it. Continuing this direction is stupid

 

[fedx]

No one said union but you. Im just stating the common sense way of rebuilding. That sure doesn’t mean they’ll do it. Continuing this direction is stupid

Which is exactly why they will continue to do it. If it doesn't make any sense, then that's the route they'll go. Just figure out whatever makes the most sense and then do the exact opposite. That's how FedEx does it.

 

[MAKAVELI]

Which is exactly why they will continue to do it. If it doesn't make any sense, then that's the route they'll go. Just figure out whatever makes the most sense and then do the exact opposite. That's how FedEx does it.

That is until stockholders bail and drop the stock like a rock. The company built its name on service. Make it an all contractor model and there is no service. FedEx is in desperation mode, trying to come up with every excuse under the sun why it's failing. The truth hurts but in order to survive, the company needs to go back to its roots.

 

[Serf]

Shrink the operation. Sell service over everything. Admit Estar and response was a failure so Raj and his counterparts have to be replaced. This is far more powerful than parking planes and close FedEx office sites.

 

[AB831]

Shrink the operation. Sell service over everything. Admit Estar and response was a failure so Raj and his counterparts have to be replaced. This is far more powerful than parking planes and close FedEx office sites.

That’s the thing-they still sell service over everything. It’s just a complete lie that they have no intention of upholding. At least three days a week during my last year, we had late freight and it was always attributed to some “unavoidable” excuse that resulted in no customer money being returned. Over-promise, get the money, welch on the service agreement is Fat Freddy’s business model.

 

[btrlov]

In his comments following the earnings release Raj said that another billion dollars in cost cutting is coming. Said something about having it all in place by next September. Wasn't specific about the areas from which those cost cuts will be extracted. Any of you guys want to thrown in your best guess?

The highest cost is labor. I have also heard of getting rid of the PM operation and extending the AM by reducing cutoff times.Another rumor is mandatory 35hr mins for drivers and non drivers. and A step freeze including any COLA adjustment for next year.

I see alot much older ppl "hanging on" and delaying retirement. The Old timer ppl really dont care because they "got thiers"and have no incentive to leave and frankly did not make enough good decsions to retire at a decent age....So we can expect more 60yr old couriers and 70-80 yr old managers and disptachers

But if express keeps going at this rate....they would probab;y layoff anyone thats social security elgible(or near) first and continue to cannibalize itself until the ship indeed sinks once and forall

 

[McFeely]

The highest cost is labor. I have also heard of getting rid of the PM operation and extending the AM by reducing cutoff times.Another rumor is mandatory 35hr mins for drivers and non drivers. and A step freeze including any COLA adjustment for next year.

We're still short on drivers at my station, so not sure how well this will work in my station. I realize some stations are fully staffed, but they'd be shooting themselves in the foot if they reduced hours or a attempted a step freeze here. As it is, I predict a handful of people will leave as soon as they terminate our premium pay that we're getting right now.

 

[AB831]

We're still short on drivers at my station, so not sure how well this will work in my station. I realize some stations are fully staffed, but they'd be shooting themselves in the foot if they reduced hours or an attempted a step freeze here. As it is, I predict a handful of people will leave as soon as they terminate our premium pay that we're getting right now.

If half of your station walked out tomorrow, it would just be more people fat Freddy doesn’t have to pay.

 

[Aquaman]

The highest cost is labor. I have also heard of getting rid of the PM operation and extending the AM by reducing cutoff times.Another rumor is mandatory 35hr mins for drivers and non drivers. and A step freeze including any COLA adjustment for next year.

I see alot much older ppl "hanging on" and delaying retirement. The Old timer ppl really dont care because they "got thiers"and have no incentive to leave and frankly did not make enough good decsions to retire at a decent age....So we can expect more 60yr old couriers and 70-80 yr old managers and disptachers

But if express keeps going at this rate....they would probab;y layoff anyone thats social security elgible(or near) first and continue to cannibalize itself until the ship indeed sinks once and forall

It genuinely blows my mind how many of the older couriers in the 25-40 years of seniority, didn’t save their money. They’ve enjoyed top pay for 95% of their career. Stock options. All the overtime they want on the best routes. And yet most of them have little invested into retirement. It’s really sad to see honestly. And frustrating to work with, because they all have had the best schedules locked up for decades.

 

[yadig]

It genuinely blows my mind how many of the older couriers in the 25-40 years of seniority, didn’t save their money. They’ve enjoyed top pay for 95% of their career. Stock options. All the overtime they want on the best routes. And yet most of them have little invested into retirement. It’s really sad to see honestly. And frustrating to work with, because they all have had the best schedules locked up for decades.

Someone get him a tissue!

 

[Serf]

It genuinely blows my mind how many of the older couriers in the 25-40 years of seniority, didn’t save their money.

Agree. Like bro; an employee from pre 1997 basically works for an entirely different company.

 

[purplelife]

Well according to job postings, it would seem the entire district is fully staffed, which seems odd. Usually dial it back this time of year but there are always stations hiring because they are so short no matter if there is a freeze or not.