Thursday, October 7, 2010

Tuesday, October 5, 2010

The Daily News of Memphis

If you look at FedEx’s history, they have demonstrated that,” Sterling said. “Particularly in their Express segment, and I see tremendous opportunity for growth through earnings per share and then the marginal expansion will come as they put more freight through their network.”
It came as no surprise, however, that FedEx Freight workers are apprehensive about their job security. Two employees attended the meeting and questioned the company’s efforts to look after its employees.
“Unfortunately, try as we might, we cannot pay people when we have no work for them to do,” Smith said in response.
FedEx is estimating a cost of $150 million to $200 million related to the move for things such as employee severance costs and lease terminations.
Bill Logue, CEO of FedEx Freight, said a strong, healthy company is the right future for all its employees long-term.
“We’ve worked very hard to make sure we’ve done the right thing for our employees on the front side,” Logue said. “Our goal is to reduce the 1,700 losses because our objective is to impact as few employees as possible.”