Friday, October 12, 2012

Warning Signs: FedEx To Slash Thousands of Jobs Citing “Weak Global Economic Conditions”

One key measure of global economic health is how much freight – raw materials and manufactured goods – is being shipped around the world and in the United States. In July of this year the Balctic Dry Index, a measure of the price to pay for the movement of raw materials by sea, hit a record breaking low and signaled a steep decline in global manufacturing and consumption.

This was a key indicator for where the economy was headed on a global scale.

Just a few months later we’ve received confirmation of this trend from FedEx, one of the largest shipping companies in the world.

Yes, Americans are still shopping, but they aren’t shopping at the same pace they were five years ago. Their jobs have been eliminated, wages reduced and credit has been restricted. FedEx’s latest earnings report is proof positive of this:

    Earnings for the first quarter were below our expectations as weak global economic conditions dampened revenue growth, drove a shift by our customers to our deferred services and outpaced our near-term ability to reduce FedEx Express operating costs to match demand levels. Read more.....

2 comments:

  1. This is so real. Americans are walking around stuff full of bullshit and not paying attention to what is going on around them. Wake your dumb ass up before it is too late.

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