FedEx To Cut Thousands Of Jobs

Just days after the BLS tried to pass a ridiculously false jobs report on the American public (which the obedient liberal media ate right up), FedEx, a bellwether US company, which announced a voluntary departure program in August, announced today that it will cut "several thousand" jobs beginning early next year:

Fedex, the global delivery company, said Wednesday it was planning to cut "several thousand" people from its workforce via a voluntary departure program beginning early next year. Company chairman Fred Smith said at an investment conference in Memphis, Tennessee, that the cuts would come in the company's Fedex Express global express delivery service, and in the US unit, Fedex Services. The cuts are part of a plan to boost profits by $1.7 billion by 2016, mainly through intensified cost reductions. They also come in the wake of the company's warnings that its business is being hit by the global economic slowdown.

So whom do you trust about unemployment? The Bureau of Labor Statistics or a bellwether of the US economy? By the way, Ford, GM, and Google recently announced similar voluntary departure programs. Oh, and because the programs are "voluntary", the employees who lose their jobs through them likely won't be counted as unemployed.