Sources are saying that FEDX has sent a memo saying that they are cutting all Manager's pay with 20 years or less 10% and their retirement is being cut also - limited to what is in their 401K's. Effective January 1, 2009.
Has anyone seen the memo yet? I'll look for confirmation, or you'll finally see it in a paper in the morning.
FEDX is one of those companies that has to run a physical operation since we haven't gotten to the point where we can digitize physical goods yet to ship them.
Smith surely wishes that they could - "Beam the packages up, Scotty!"
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December 18, 2008
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