Well, time to bring this thread back long enough to say I have had enough!!! I have been ready to take early retirement for several months now, but was waiting for a package. Looks now like the economy may be getting some "legs" and UPS stock is up, so I think the possibility of packages is remote for now.
I guess I will be one of the "attritutions", if that is a word.
Good luck to all, and keep bustin' your hump so I can get my dividends!!!
I've said before, there is no ERO coming. The reportback DVD confirmed that.
People need to realize that we are in dire economic times worldwide. 663,000 additional workers lost their jobs in March with a total jobless count of 13 million.
This has affected a tremendous amount of people, my family included.
Rather than complaining about UPS not offering an ERO, or complaining about our situation, its time for management to do what we are paid for.
We need to:
- Grow the business
- Reduce cost
- Maintain service
We need to do all three of those things.
Below is the FedEx ERO. Do you think those 1,000 people would be complaining if they were in our shoes?
P-Man
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MEMPHIS, Tennessee (AP) -- FedEx Corp. laid off 1,000 employees Friday to meet job cuts the package delivery company announced were coming after third-quarter earnings dropped 75 percent.
FedEx said half of the dismissed workers -- all of whom were salaried or management employees -- were employed in Memphis, where the corporation and its largest operating unit, FedEx Express, are headquartered.
Before the cuts, FedEx Corp. had about 33,000 employees in the Memphis area and 290,000 workers worldwide.
Spokesman Jess Bunn said the cuts were companywide.
"The decision to reduce the work force across our companies was difficult but unavoidable given the global economic recession and its effect on our business," Bunn said. "This is all we have planned now."
FedEx announced that job reductions were pending when it released third-quarter earnings last month.
"We started notifying people this morning," Bunn said.
The company reported earnings of $97 million, or 31 cents a share, compared with $393 million, or $1.26 a share, a year earlier in the December-to-February period. Revenue fell 14 percent from the previous year, to $8.14 billion, and 14.7 percent from the previous financial quarter.
Bunn said laid off workers were offered severance packages that included job counseling and the opportunity to reapply if new jobs are added in the future.
In December, FedEx announced pay cuts of 5 percent for thousands of employees. The company hopes to save about $1 billion with the cuts in fiscal 2010, which begins in June.
The company said FedEx CEO Frederick Smith would take a 20 percent pay cut, with other top executives taking cuts up to 10 percent.