News Summary: FedEx to offer buyoutsDecember 4, 2012 @ 3:01 pm
(AP) - BUYOUTS FOR BYE-BYES: FedEx will offer some employees up to two years' pay to leave, starting next year. The voluntary program is part of an effort by the world's second-biggest package delivery company to cut annual costs by $1.7 billion within three years.
CHEAPER SHIPPING: The restructuring is a response to a shift by customers away from premium package-delivery services and toward slower, less expensive modes.
INTO THE SUNSET: The first wave will leave on May 31, the last day of FedEx's fiscal year. The next wave departs six months later and the final group on May 31, 2014.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Oklahoma City tornado kills at least 50, dozens of kids missing
Gallery: Deadly Oklahoma tornado
New lane restrictions mean Mercer Street is tough to travel during afternoon commutes
Bonneville Media encourages site users to express their opinions by posting comments. Our goal is to maintain a civil dialogue in which readers feel comfortable. At times, the comments can descend to personal attacks. Please do not engage in such behavior. We encourage your thoughtful comments which: have a positive and constructive tone, are on topic, are respectful toward others and their opinions. Bonneville reserves the right to remove comments which do not conform to these criteria.