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We need to demand hazard pay
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<blockquote data-quote="Maui" data-source="post: 4434505" data-attributes="member: 45037"><p>It's more like 40,000 couriers. The actual financials for FY20, which has been a bad year, are not even close to 50% labor.</p><p></p><p>Q3 Revenue - $17.487b</p><p>Q3 Salaries and benefits - $6.382b</p><p>36.49% of revenue (2% raise Oct)</p><p></p><p>FY20 YTD revenue $51.859b</p><p>FY20 YTD salaries and benefits $18.704b</p><p>36.05% of revenue</p><p></p><p>FY19 35.55% of revenue</p><p>FY18 36.36% of revenue</p><p></p><p>UPS 2019 52.51% of revenue</p><p>UPS 2018 51.82% of revenue</p><p></p><p>Of course this is worldwide for both and FedEx has been making significant capital investments at Express and Ground. As you can see, FedEx spends much more on other expenses than UPS. The average US Express courier wage is probably about $23-$24/hour. $6-7/hour plus the additional taxes, 401K match, etc would be substantial even without OT. About $500 million/year and RTD, CSA, Dispatch, etc would also need raises.</p><p></p><p>The additional cost to raise salaries to $30/hour would be too much for FedEx and that is just Express. Last mile, aircraft modernization, hub expansion and automation, and the buildout for Ground will reduce capital expenses significantly beginning June 2022 in addition to integrating TNT. Depending on how long and deep the COVID impact, there will be much, much more money available for wages then and employees should get some of that and would be right to ask for it.</p></blockquote><p></p>
[QUOTE="Maui, post: 4434505, member: 45037"] It's more like 40,000 couriers. The actual financials for FY20, which has been a bad year, are not even close to 50% labor. Q3 Revenue - $17.487b Q3 Salaries and benefits - $6.382b 36.49% of revenue (2% raise Oct) FY20 YTD revenue $51.859b FY20 YTD salaries and benefits $18.704b 36.05% of revenue FY19 35.55% of revenue FY18 36.36% of revenue UPS 2019 52.51% of revenue UPS 2018 51.82% of revenue Of course this is worldwide for both and FedEx has been making significant capital investments at Express and Ground. As you can see, FedEx spends much more on other expenses than UPS. The average US Express courier wage is probably about $23-$24/hour. $6-7/hour plus the additional taxes, 401K match, etc would be substantial even without OT. About $500 million/year and RTD, CSA, Dispatch, etc would also need raises. The additional cost to raise salaries to $30/hour would be too much for FedEx and that is just Express. Last mile, aircraft modernization, hub expansion and automation, and the buildout for Ground will reduce capital expenses significantly beginning June 2022 in addition to integrating TNT. Depending on how long and deep the COVID impact, there will be much, much more money available for wages then and employees should get some of that and would be right to ask for it. [/QUOTE]
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