FedEx May Cut Jobs, Add Fewer Stores and Park Planes

[say again]

These are the times I wish I owned an alcohol distribution company, or maybe a few fields down in Colombia.

 

[skykid]

Having spent several years at a legacy carrier and wishing now I had gotten furloughed 4 years earlier (like the day I got hired) I can't tell you how glad I am to be weathering this downturn at FedEx instead of somewhere else. Mgt is proactive with cost saving ideas, and FedEx is still making money! I count myself as very fortunate.

 

[Sedona16]

Having spent several years at a legacy carrier and wishing now I had gotten furloughed 4 years earlier (like the day I got hired) I can't tell you how glad I am to be weathering this downturn at FedEx instead of somewhere else. Mgt is proactive with cost saving ideas, and FedEx is still making money! I count myself as very fortunate.

Yeah I have no doubt Fedex will be around for the long term especially with Fred behing the scenes. One of your freight brothers ("Networ-King", a former Delta guy) who likes to rail on his former Delta peeps from time to time doesnt seem to be very happy at UPS lately. http://forums.flightinfo.com/showthread.php?t=119376 Given time I'm sure both Fedex and UPS will be good pilot wise once we all start losing the age 65 guys in a few years. At least you dont have to worry about going out of business in the iterim.

 

[jimcav]

So are we talking more pilots out on the street? And the hits just keep on coming. Thanks Bush and all you red necks who supported him.

Just because you disagree with someone politically does not mean you should resort to name calling. Remember what your boy Obama said,"we can disagree without being disagreeable".

 

[propjob27]

Did Obama get his US Citizenship yet?

 

[satpak77]

Did Obama get his US Citizenship yet?

i don't know but he just got the US Presidentship

 

[sstearns2]

These are the times I wish I owned an alcohol distribution company, or maybe a few fields down in Colombia.

Just go to bartending school. A bartender at a busy club makes more than an RJ captain and works less.

Scott

 

[Max Powers]

Just because you disagree with someone politically does not mean you should resort to name calling. Remember what your boy Obama said,"we can disagree without being disagreeable".

I guess your right; using "red neck" is not very nice and is resorting to name calling. Next time I will use ignorant, uneducated, stuck in the past and not open-minded.

Since I'm not name calling anymore perhaps you will recant your "boy" reference in regard to my main "MAN" Obama.

 

[EMBPILOT1]

Funny guy. What is even funnier is all the cargo trolls rolling around on these boards the past few years since 911 convincing all the pax haulers you got it made....you and UPS are insulated from what the pax guys gotta deal with because "hey no matter what people will just keep sending boxes". I'll admit, I started to buy in to this argument to some degree. It looks like we were both wrong. Having said that, barring some unforseen circumstance I beleive box haulers will be just fine in the end. Your increased number of FE's who were over 60 combined with the age 65 legislation and parking 3 man airplanes has hurt you worse in the short term than some pax carriers purely from a pilot standpoint.

Actually, people are still sending boxes, and lots of them. The problem is that they are not paying the price to send them by NDA. Instead, they are paying lower prices to send em on the ground by truck.

 

[BoilerUP]

Nobody has mentioned FedEx had a nearly HALF BILLION dollar profit???

 

[jmreii]

Nobody has mentioned FedEx had a nearly HALF BILLION dollar profit???

That profit is for investors. Any company needs to generate revenue to continue any level of operation or cutback, maybe cease to exist.

 

[jonjuan]

That profit is for investors. Any company needs to generate revenue to continue any level of operation or cutback, maybe cease to exist.

No kidding. Profit needs to be increased year over year. The fiduciary responsibility of any CFO is to the investors.

 

[BoilerUP]

That profit is for investors. Any company needs to generate revenue to continue any level of operation or cutback, maybe cease to exist.

Yes...and empowering their $493M profit (up 3%) was $9.54B in revenue (up 1%). While I'm no economist, its obvious that cost cutting and improved efficiency is boosting profit more than revenue growth.

I sincerely hope that management is able to uphold their fiduciary responsibility to FDX shareholders while not reducing their workforce in the midst of half-billion dollar profits...

 

[rajflyboy]

Yes...and empowering their $493M profit (up 3%) was $9.54B in revenue (up 1%). While I'm no economist, its obvious that cost cutting and improved efficiency is boosting profit more than revenue growth.

I sincerely hope that management is able to uphold their fiduciary responsibility to FDX shareholders while not reducing their workforce in the midst of half-billion dollar profits...

Company's need to look past quarterly profits and look towards long term goals. Fortunately our CEO looks more long term than short term. FEDEX is making big time dough. Dont furlough people because of a measly quarterly profit statement.

 

[propjob27]

No kidding. Profit needs to be increased year over year.

I don't think I've ever seen an airline live up to that.