As I said in another thread; this isn't our company! None of us own FedEx, stop treating it as such.
Oh wow, Fred must have been living hand to mouth during that time.
He has a fiduciary responsibility to shareholders. Plus if you look at total payroll, which is about half of total revenue, there's no way the company is going to give couriers what couriers want with the leftover profit.
And yet the company's official position for making less then 10% of what they did in 2018 last year is because of a tariff and customers just not appreciating how "we're so much better than Amazon". There's NO wrong doing on FedEx's part. None whatsoever. Every decision they make is perfect. It's someone else's fault.
Just show me the math of how it's possible and I won't point this out when y'all claim there's plenty of money to give you much better pay.
Nuttin' personal Van but........
What is Fred buying that is killing net income?
Show us the math of otherwise.
He could but him and his cronies have gotten so greedy over the years like overfed pigs in a trough that has shoved everyone else (the front-line workers) aside. Plus FedEx is notorious for spending lots of money on stupid stuff. A lot of it is toys that hopefully will impress Wall Street. It's all sickening.
Stock buybacks and TNT.
Don't know the current numbers but when FedEx had about $53 Billion of total income it's payroll was close to half of that. So if shelling out about $26 Billion a year in pay then how with the profit at anywhere from hundreds of millions to about $4 Billion then how can they pay every courier $30 hr with premium insurance to boot? There used to be about 70,000 couriers. If they all worked exactly 40 hours at $30 hr for 52 weeks a year you're looking at over $43 Billion! Before we start arguing about how many are part-time there are a lot more employees than couriers, and I didn't even mention OT or benefits. And FedEx has huge fuel and vehicle costs too. Honestly we took it on the chin all those years with minimal raises. But the current pay plan is about as good as you could hope for. And with the current crisis things are beyond the company's control. It will take longer to top out because the company isn't going to shell out more than it takes in. Do the math. I want all of you guys to get as much as possible. But it's labor intensive work that requires a large workforce. So there's only so much to spread around. And why they are shifting work to Ground to ultimately reduce hours and total employees. If we end up in a depression don't expect great pay and a decent retirement. You'll be fortunate to have a job.
