not pleasant,,,new sheriff in town just 3 months in.

https://dailymemphian.com/section/busine...ng-flights

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For those who don't or can't want to pay to get past the wall.

FedEx to close stores, park Aircraft, put off hiring as demand slumps

Their CEO predicted a worldwide recession.

Seems kind of like a knee jerk reaction. "Oh no, we had a bad quarter, we have to have a hiring freeze and close some facilities until things get better" reflects some hand wringing on their part. On the other hand I would think FedEx has a pretty good idea what is in store for the economy for the coming year. So I'm not sure how to take all this. Hey I try to help out the home town team by shipping FedEx as much as I can at my work place, I think I can pull them out of their funk...lol.

FedEx always does this - take quick action based upon forecasts of downturns. It can be frustrating to employees, but it's one of the things that has kept the company on top. Raj and Richard learned this from the old man.

(09-16-2022 09:52 AM)Tiger87 Wrote:  FedEx always does this - take quick action based upon forecasts of downturns. It can be frustrating to employees, but it's one of the things that has kept the company on top. Raj and Richard learned this from the old man.

i thought the first step was always voluntary retirements

guess that well is dry right now?

(09-16-2022 11:03 AM)BandwagonJumper Wrote:  

(09-16-2022 09:52 AM)Tiger87 Wrote:  FedEx always does this - take quick action based upon forecasts of downturns. It can be frustrating to employees, but it's one of the things that has kept the company on top. Raj and Richard learned this from the old man.

i thought the first step was always voluntary retirements

guess that well is dry right now?

Not sure about the voluntary part. My cousin was a 20 year employee and got RIFed. (RIF is a military term for reduction in force)

(09-16-2022 11:03 AM)BandwagonJumper Wrote:  

(09-16-2022 09:52 AM)Tiger87 Wrote:  FedEx always does this - take quick action based upon forecasts of downturns. It can be frustrating to employees, but it's one of the things that has kept the company on top. Raj and Richard learned this from the old man.

i thought the first step was always voluntary retirements

guess that well is dry right now?

2003 - first buyout
2008 - cut backs
2013 - second buyout

some of those low number employees will not leave
there is no where else to make that kind of money

i think around 2009 they froze the defined retirement plan
and put everyone on the portable retirement plan

they have been doing hiring freezes for 30 years,
its become a game internally, spicket on then spicket off

Nick, our FedEx driver, makes 2 bucks more an hour than burger flippers and he hasn’t had a raise in 2 years. Those drivers work really hard — hurry hurry hurry.

(09-17-2022 01:38 AM)snowtiger Wrote:  Nick, our FedEx driver, makes 2 bucks more an hour than burger flippers and he hasn’t had a raise in 2 years. Those drivers work really hard — hurry hurry hurry.

Contract employee, likely.

(09-16-2022 11:03 AM)BandwagonJumper Wrote:  

(09-16-2022 09:52 AM)Tiger87 Wrote:  FedEx always does this - take quick action based upon forecasts of downturns. It can be frustrating to employees, but it's one of the things that has kept the company on top. Raj and Richard learned this from the old man.

i thought the first step was always voluntary retirements

guess that well is dry right now?

Nah. First step is always a hiring freeze. See how the quarter plays out, then consider the buyouts.

(09-20-2022 05:13 PM)Tiger87 Wrote:  

(09-17-2022 01:38 AM)snowtiger Wrote:  Nick, our FedEx driver, makes 2 bucks more an hour than burger flippers and he hasn’t had a raise in 2 years. Those drivers work really hard — hurry hurry hurry.

Contract employee, likely.

More than likely it's FeEx Ground which are independent contractor businesses