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 10:00:18 am Views: 31
  • #20419
    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.