FedEx to offer buyouts with up to 2 years pay

NEW YORK (AP) -- FedEx will be offering some employees up to two years pay to leave the company next year.

The voluntary program is part of an effort by the second-biggest package delivery company to cut annual costs by $1.7 billion within three years.

Employees who volunteer for the program will receive four weeks of pay for every year of service, capped at two full years of base pay.

Those eligible will be notified in February, and have until April to apply. They'll be informed in May if they are accepted. The first wave of employees will leave on May 31, the last day of FedEx's fiscal year.

FedEx, which is based in Memphis, Tenn., is responding to a slow-growing global economy. It also plans shed aircraft and underused assets to cut costs.


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Copyright © 2015 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 182045511 - local8now.com/a?a=182045511
Gray Television, Inc.