DHL TO CUT 9,500 JOBS & CLOSE U.S. SERVICE CENTERS

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DHL TO CUT 9,500 JOBS & CLOSE U.S. SERVICE CENTERS

 user 2008-11-10 at 9:59:46 am Views: 52
  • #20655

    http://news.yahoo.com/s/ap/20081110/ap_on_bi_ge/eu_germany_deutsche_post;_ylt=AgiFXwrCMBXPfO_Hb.XhBGth24cA
    DHL to cut 9,500 jobs and close US service centers
    FRANKFURT, Germany – Deutsche Post AG will close all of its DHL Express service centers, cut 9,500 jobs in the United States and eliminate U.S.-only domestic shipping by land and air, the company said Monday, citing heavy losses and fierce competition.The Bonn-based company said that new round of cuts are on top of another 5,400 job cuts it already announced and blamed heavy losses at the unit, which competes with rivals UPS Inc. and FedEx Corp.The cuts are part of a wider plan to curtail operations in the U.S., including domestic ground and delivery services though its international shipping won’t be affected. The express unit currently employs some 18,000 workers.

    Part of the plan calls for the halt to domestic shipping by Jan. 30, the company said after it closes all of its ground hubs.”The retained U.S. international express network with a total of 3,000 to 4,000 employees will be tailored to the needs of the group’s international express service customers,” the company said in a statement. “All international shipments into the U.S. will still be delivered, while 99 percent of the outbound shipments will be picked up.”

    The move is expected to reduce operating costs at the U.S. Express unit from $5.4 billion (4.2 billion euros) to less than $1 billion (770 million euros).”The international express offering in the U.S. will be maintained on today’s levels and the region will remain an integral part of DHL’s global Express network,” the company added.Shares of Deutsche Post were up 4.2 percent at 9.77 euros ($12.60) in Frankfurt trading.