Let's face it, FedEx over-hired in the past few years and now that online ordering is going down once again, there has to be some kind of an adjustment. I'm not saying this to scare people but to be realistic. There will be many more layoffs in the coming months, I'd be willing to bet my house on it.
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I'm in agreeance with future layoffs coming. There is an entire new leadership structure with lots of ideas and no idea on how to implement them.
One FedEx started June 1st and with it there will be One Giant Layoff.
I know this is old - but my money is they do another round of layoffs at the corp level (Sales/Marketing/Solutions/etc) in Feb or March of next year. They started turning on the burner with "KPI's" that they are tracking as of June 1.
The message with KPI's is "You miss one quarter - you get a verbal, but documented reprimand. Miss the next quarter, you're put on a performance plan."
I bet dollars to donuts, that when next layoff comes around (post peak), anyone on a performance plan is on the list, which would line up with doing just enough work to get through peak, and in time for earnings the following quarter to basically give shareholders another "Look at how much we're optimizing!"
When looking at previous corp layoffs in 23 and earlier this year in 24, they all happened around the same time and are following a trend of, in order, VPs/Directors in 23 (with some departments getting cut), directors/front line managers (and more departments in 24) and I have the strongest hunch that it will be frontline managers and individual contributors (with even more departments) in 25.
Volume is down for shippers due to the price gouging on food and gasoline for consumers. There is no money left over. Shipping companies are being robbed by the mega grocery stores with smaller amounts of food packaging for sky is no limit pricing. We skip one week per month now and do not buy any groceries or fuel. Helps budget.