FedEx lays off hundreds - WMC Action News 5 - Memphis, Tennessee

FedEx lays off hundreds

MEMPHIS, TN (WMC-TV) - FedEx Corp. laid off 1,000 employees to meet job cuts the company announced were coming after third-quarter earnings dropped 75 percent.

FedEx said Friday that 500 of the laid-off workers were employed in Memphis, where the corporation is headquartered.

The latest cuts came after 900 workers were laid off at the company's freight unit in February. It's all part of a $1 billion cost-reduction plan.

Spokesman Jess Bunn said the cuts affect all of the corporation's operating units, including its cargo airline and trucking divisions.

He said the company had no immediate plans for additional job cuts.

Greater Memphis Chamber President John Moore says the city's flagship company is not safe from the recession.

"This had to be a really hard thing for them to do, being globally regarded as one of the best places to work," he said.

But Moore say it's important to remember that FedEx employs more than 30,000 people in the Memphis area - and the vast majority remain at work.

But it's little consolation to the employees who were laid off rather unceremoniously on Friday.
     
In an e-mail, one fired worker wrote: "I started to pack up some of my personal items, like pictures and stuff. A manager stopped me. I was told that those things would be mailed to me later. They didn't waste any time getting security to escort me from the building. I started crying. Years of hard work and dedication, and now this!"
     
The lay-offs were unavoidable, said a FedEx spokesperson. But affected employees will receive financial support and career counseling, and will be first to fill any future openings.

"I'm hopeful we're hitting bottom here," said Moore.     

He says he believes FedEx will be among the first to fully bounce back when the economic climate improves.

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