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FedEx announces more layoffs
FedEx Corp. announced a lay off 1,000 salaried managers and professionals across its global work force Friday. 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.
A FedEx spokesman admitted they had tried to avoid the layoffs and although it pained him to bring such negative news, FedEx had done everything they could.
By “everything we could” spokesman Maury Lane was likely referring to the 5 percent pay cuts for all of FedEx’s United States salaried personnel, the scrapped bonuses, and the frozen 401(k) contributions that took place in December. Lane also assured that those laid off would be let down easy, noting the company would be offering “generous severance packages”, outplacement assistance, and early word of future FedEx job opportunities should there be any.
This news combined with the news of the IBM-Sun merger has definitely made me weary when it comes to my prediction that the fall in U.S. unemployment rate will slow for Q2.
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