The corporate owner of DHL -- is planning to announce a cost-cutting program Monday that could result in as many as 40,000 layoffs at DHL, according to the Associated Press. About half the planned layoffs could take place at DHL's U.S. Express business, which competes with larger rivals UPS
Companies in the shipping space have been hit hard by the global slowdown. Last month, Deutsche Post cut back its earnings forecasts for this year and next, predicting that pretax profit will fall 8% in the third quarter.
Deutsche Post is reportedly planning a news conference Monday to outline the cost-reduction plan.
Deutsche Post is reportedly planning a news conference Monday to outline the cost-reduction plan.