In light of the Houthi attacks diverting maritime shipping out of the Red Sea there is talk that Fat Freddy's old cargo planes might pick up a little more international air freight for a little while until things settle down .
Its been that way for the 20+ years we have had the postal contract. The vast majority of our morning plane that comes in is filled with mail freight. The talk 15 years ago was if the post office ever went away, we would be screwed.
Sounds like that's about to change, at this point Raj should sell the company for pennies to Bezos...
If we lose the postal contract, or if it’s even massively diminished… FedEx Express is gone. This operation makes zero sense without the postal volume. Our whole day to day business plan revolves around that contract lol.
What do you mean, if we lose the contract? FedEx plans to walk away from it unless the USPS agrees to significant changes when the contract is up in September. The postal volume only accounts for 4% of revenue and barely turns a profit. The main effect of not renewing the contract is a reduction in daytime flights and getting rid of some pilots.
Contract or not, fedex is done.
What other contract accounts for 4%? That's a pretty big chunk of change.
The only reason express is strong arming USPS is because they’re in the process of shrinking Express down to nothing. No postal really helps hurry that along.
100% facts, I imagine a year from now express will be a part time gig no benefits.
All the old timers are fine with everything going part time before retirement. It’s the younger drivers I feel bad for
Seems I've heard this before. Didn't everyone say FedEx was done when they dropped Amazon?
Raj is saying it
There are three stations in my immediate area. Over the last few months one of them has hired 37 couriers with 20 of them being full-time. The other two stations have hired 12+ couriers over the same time. The employees at one station have been told by the engineer that everyone is safe for the next 5-7 years. For a company that is going out of business, they have a funny way of showing it.
No chance anyone knows what’ll happen in 5-7 years at this company.
When I started at the Memphis Hub in '86 my mgr told us in a meeting that the only thing that FedEx guarantees is things will change. That is certainly true. What she failed to say was just how dishonest FedEx would be about future changes because the only thing that mattered for us as individual employees was that we were as productive as possible for as little pay as possible. Everything that we thought was part of our future with the company then was just window dressing to lure us in and keep us at it.
