Rhoderunner
Well-Known Member
From the Commercialappeal.com.......Smith and chief financial officer Alan B. Graf Jr. said they expect several thousand well-paid, long-tenured employees, including a "substantial" number from Greater Memphis, to happily walk out the door next May 31 with generous severance packages.
The buyouts will be offered to well-paid, long-tenured employees, primarily in the express division, based in Memphis, and a support unit, FedEx Services.
"It's a reasonably small number, but because they are highly compensated staff personnel, it's a big number on the bottom line on a go-forward basis," Smith said.
The number of buyouts and impact on Memphis probably won't be known until next spring. "We don't anticipate having more details about the voluntary buyouts until the second half of fiscal 2013," FedEx Express president and CEO David J. Bronczek said.
The buyouts will be offered to well-paid, long-tenured employees, primarily in the express division, based in Memphis, and a support unit, FedEx Services.
"It's a reasonably small number, but because they are highly compensated staff personnel, it's a big number on the bottom line on a go-forward basis," Smith said.
The number of buyouts and impact on Memphis probably won't be known until next spring. "We don't anticipate having more details about the voluntary buyouts until the second half of fiscal 2013," FedEx Express president and CEO David J. Bronczek said.