When FedEx laid-off 1,000 employees last week, Chairman and Head Hypocrite (CHH in FedEx speak) Fred Smith violated the last remainder of the PSP philosophy which has supposedly guided the company since it's founding in 1973. Those of us who work there know it's a complete joke, but upper management has continued to shove their "belief" in PSP down our throats anyway. What will they say now? There is nothing left to lie about any longer. If he really meant what he said about PSP Smith could have asked the entire company to take a 1% pay cut (I would have gladly done so), or he could have sucked it up and taken the hit for the sake of his employees. He chose the easy way, so it would look better to Wall Street, and threw his workers under the bus....again. Thank you for walking the talk Fred. PSP (People-Service-Profit) is a meaningless slogan, and just an empty abbreviation in the FedEx Mission Statement. Let's re-name it as it should be...PPP, for Profit, Profit, Profit, and stop the ruse. Please try and do a sales job on this latest move Smith. Even you aren't slick and greasy enough to make that flavor of Kool-Aid drinkable.