TNT deal raises FedEx employment to almost 400,000

[cheryl]

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.

 

[Purplepackage]

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

 

[xfdxgroundmgmt]

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

again

Hello 1.5%

 

[bacha29]

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.

 

[Code 82 Approved]

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

 

[UpstateNYUPSer(Ret)]

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

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

 

[silenze]

They can use the migrant workers.

 

[ILuvPandas]

Maybe we'll get their ugly orange vans

 

[Cactus]

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

True. Case in point Puerto Rico.

 

[slowdriver]

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...

 

[bacha29]

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.

 

[vantexan]

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.

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?

 

[bacha29]

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.

 

[Nolimitz]

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.

 

[vantexan]

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.

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.

 

[Cactus]

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.

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.

 

[Purplepackage]

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.

Well there's definetly express in the UK so

 

[vantexan]

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.

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

 

[MrFedEx]

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.

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.

 

[MrFedEx]

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.

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