Restructuring at FedEx Express likely to resemble 2004 not 2009
In 2003, with the economy still recovering from Sept. 11, 2001, terrorist attacks, FedEx dangled voluntary buyouts as part of a push toward 10 percent operating margins.
The offer got more takers than the company anticipated and trimmed about 3,600 from the payroll by June 30, 2005.
In 2009, the company eliminated 3,100 jobs, some of them involuntarily, in an effort to balance expenses against weak demand coming out of the great recession.
One round of those cuts slashed 1,000 jobs companywide, including an estimated 500 in Memphis, where FedEx employs about 30,000.
In 2003, with the economy still recovering from Sept. 11, 2001, terrorist attacks, FedEx dangled voluntary buyouts as part of a push toward 10 percent operating margins.
The offer got more takers than the company anticipated and trimmed about 3,600 from the payroll by June 30, 2005.
In 2009, the company eliminated 3,100 jobs, some of them involuntarily, in an effort to balance expenses against weak demand coming out of the great recession.
One round of those cuts slashed 1,000 jobs companywide, including an estimated 500 in Memphis, where FedEx employs about 30,000.
