TNT deal raises FedEx employment to almost 400,000

Discussion in 'FedEx Discussions' started by cheryl, May 28, 2016.

  1. cheryl

    cheryl I started this. Staff Member

    TNT deal raises FedEx employment to almost 400,000 - Commercial Appeal

    In one fell swoop, Memphis' biggest company ballooned to nearly 400,000 employees worldwide and close to $58 billion in annual revenues.

    The jewel of FedEx's acquisition of TNT Express this week is a European road network linking 40 countries, but the heart of FedEx remains in Memphis.

    No immediate impact was foreseen on FedEx's Memphis area workforce of more than 30,000, but the company's continued growth as a force in world commerce would have a ripple effect here. FedEx is the area's largest private employer.
  2. Purplepackage

    Purplepackage Well-Known Member

    Looks like no raises this year..or for the next 5 years
  3. again

    Hello 1.5%
  4. bacha29

    bacha29 Well-Known Member

    You guys know the company quite well. They give you something in one place but take it off somewhere else. It's an impossible situation.
  5. Code 82 Approved

    Code 82 Approved Titanium Plus+ Level Member

    I'm sure FedEx Ground will appear in Europe, and mark my word you better be in line to cover that work area.
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Not sure how the contractor model will fly in some of the more union strong countries within the European Union.
  7. silenze

    silenze Lunch is the best part of the day

    They can use the migrant workers.
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  8. ILuvPandas

    ILuvPandas New Member

    Maybe we'll get their ugly orange vans
  9. Cactus

    Cactus Just telling it like it is

    True. Case in point Puerto Rico.
  10. slowdriver

    slowdriver Member

    Wow! What timing fred has, takeover a European company months before the European Central Bank expansion of bond buying into corporate bonds, and promptly issue 3.4 billion in euro bonds. Rigged much...
  11. bacha29

    bacha29 Well-Known Member

    No question a lot of TNT employees will lose their employment or will be forced to convert to the so called 'contractor" model and given the likelihood of European Central Bank support they may have very little recourse but to go along with whatever Smith wants given the weakness of the European economy. Either way the people who work for TNT will be worse off.
  12. vantexan

    vantexan Well-Known Member

    FedEx Express is unionized in Europe. Most likely the TNT employees are too. TNT is an expansion of Express in Europe so why would they not be regular employees?
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  13. bacha29

    bacha29 Well-Known Member

    What will be interesting to see is if under the terms of the sale Smith agrees to recognize the unions in place at TNT. Remember when TNT was sold for all intents and purposes it no longer existed. He could therefore do whatever he wanted. However if he bought TNT just to get their volume and fold that into Express Europe operations then they for the most should be alright. However if there did exist the opportunity to bust the union in a manner that offered a good chance at success don't think for a minute that he won't try it.
  14. Nolimitz

    Nolimitz Active Member

    Strong unions in Europe may be the demise of good ole Freddy. One can hope, wish and pray that they bend him over backwards for a change.
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  15. vantexan

    vantexan Well-Known Member

    But the European Union had to approve the sale so expect the union to remain intact. The TNT employees are being taken in to FedEx Express, which is unionized there. Highly unlikely we'll ever see a Ground like operation in Europe, very different culture.
  16. Cactus

    Cactus Just telling it like it is

    Didn't Smith shut down Express in the UK due to the union coming in? This was at least 8-10 years ago if I'm remembering stuff right.
  17. Purplepackage

    Purplepackage Well-Known Member

    Well there's definetly express in the UK so
  18. vantexan

    vantexan Well-Known Member

    Don't know, but it's unionized now.
  19. MrFedEx

    MrFedEx Engorged Member

    Yes. This has been the FedEx MO for over 20 years now. "Sorry, but we're investing in new growth opportunities for your future" or some similar nonsense. This is how it's portrayed, and then the company makes a huge additional profit but little to none works it's way down to us because we "have to look to the future" etc.

    I feel sorry for the employees of TNT. After the initial honeymoon period, X will start purging TNT management and then probably try to kill the unions. When FedEx bought Flying Tigers the first thing they did was to start trying to eliminate Tigers managers and the union flight attendants. Within a year, passenger flights were done, and about half the Tigers managers had been kicked out the door.

    So, if there is an economic downturn in Europe, fully expect that as a reason for keeping pay low here.

    It never ends.
  20. MrFedEx

    MrFedEx Engorged Member

    Yes. FedEx suspended operations in the UK for awhile and then brought them back.