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VOL. 128 | NO. 26 | Thursday, February 7, 2013

FedEx Officers, Directors Accept Buyout Plan

AP

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NEW YORK (AP) FedEx Co., the world's second biggest package delivery company, will lose more than 10 percent of its U.S.-based executives under a voluntary buyout plan.

The Memphis, Tenn., company says its personnel will leave the company in stages through May 2014.

On Wednesday a spokesman declined to say how many employees are leaving, or even how many U.S.-based officers and executives FedEx employs.

In December FedEx offered employees up to two years' pay to leave. It's seeking to reduce annual costs by $1.7 billion by 2016.

FedEx, the world's second biggest package delivery company, employs more than 278,000 people worldwide.

The news comes on the same day the U.S. Postal Service said it will end Saturday mail delivery to stem financial losses.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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