NEW YORK (AP) -- FedEx Co., the world's second biggest package delivery company, will lose more than 10 percent of its U.S.-based executives under a voluntary buyout plan.
The Memphis, Tenn., company says its personnel will leave the company in stages through May 2014.
On Wednesday a spokesman declined to say how many employees are leaving, or even how many U.S.-based officers and executives FedEx employs.
In December FedEx offered employees up to two years' pay to leave. It's seeking to reduce annual costs by $1.7 billion by 2016.
FedEx, the world's second biggest package delivery company, employs more than 278,000 people worldwide.
The news comes on the same day the U.S. Postal Service said it will end Saturday mail delivery to stem financial losses.
Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
Most Popular Stories
Ferris wheel ride world record broken in Chicago
Star chef killed over meal
Texas senior, 18, bags 800-pound record alligator
Fighting eagles crash land on Minn. airport runway
GOP questions IRS scrutiny of anti-abortion groups
Garcetti elected Los Angeles mayor over Greuel
Gov't dysfunction may be baked into the system
Anthony Weiner launches bid to become NYC mayor
Under scrutiny, Va. gov's mansion a dichotomy
WVLT VOLUNTEER TV
6450 Papermill Drive Knoxville, TN 37919 (865) 450-8888 - Phone (865) 450-8869 - Fax
Gray Television, Inc. - Copyright © 2002-2013 - Designed by Gray Digital Media - Powered by Clickability
User Agent: CCBot/2.0 - 190165601
