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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 This material may not be published, broadcast, rewritten or redistributed.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 87 87 7,836
MORTGAGES 108 108 9,307
FORECLOSURE NOTICES 0 0 1,358
BUILDING PERMITS 130 130 16,737
BANKRUPTCIES 55 55 5,461
BUSINESS LICENSES 32 32 2,980
UTILITY CONNECTIONS 0 0 3,250
MARRIAGE LICENSES 37 37 1,725

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